SXP is moving between EMA 100 and EMA 200, Both of them are critical for movement. For now SXP rejected from EMA 200 and MACD is being Bearish, Also Volatility is being bearish and Stochastic RSI is Bearish... Things are targeting 0.73$ and 0.62$ support line, But If SXP breaks EMA 200 and hold above it, Then it will being Extremely Bullish.
By the Way there is Falling wedge, which is controlling upward movement at 0.8$ resistance :
🔴 As SXP is below 0.8 and moving into Wedge it's slightly Bearish, Above one of this resistances will makes SXP Bullish.
Attention : this is not a financial advise we just try to help people on their own vision.
HAVE A GOOD DAY - Helical_Trades
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Now 0.8$ has been broken and it's a good time for longs 🔴 Watch for fake break out, wait for retest or confirmation.