Williams Alligator Indicator shows the alligator starting to ¨open its mouth¨, with candlesticks moving further away from the lines, indicating the presence of bullish momentum.
RSI shows that XEMUSD is not overbought or oversold, therefore, a trend reversal or corrective pullback are unlikely to occur in the near future.
MACD line is over the signal line, indicating the presence of bullish momentum, but it is evident that it recently experienced bearish momentum as the MACD line moved closer to the signal line.
Candlestick Patterns: One week ago, a Bearish Engulfing pattern emerged and the bearish reversal was confirmed by subsequent bearish candlesticks. 4 days ago, a bullish Morning Star pattern emerged and the bearish reversal was confirmed by subsequent bullish candlesticks. One day ago, a bearish candlestick formed. It is too early to know whether a bearish reversal will take place but that will depend on how the price behaves the next few days.
Overview: Overall, all indicators and candlestick patterns suggest that XEMUSD recently experienced a price correction, and is currently in an uptrend and experiencing strong bullish momentum. A long position is recommended, entry price should be set slightly higher than current price for assurance, and stop loss should be set at about -5%.
RSI shows that XEMUSD is not overbought or oversold, therefore, a trend reversal or corrective pullback are unlikely to occur in the near future.
MACD line is over the signal line, indicating the presence of bullish momentum, but it is evident that it recently experienced bearish momentum as the MACD line moved closer to the signal line.
Candlestick Patterns: One week ago, a Bearish Engulfing pattern emerged and the bearish reversal was confirmed by subsequent bearish candlesticks. 4 days ago, a bullish Morning Star pattern emerged and the bearish reversal was confirmed by subsequent bullish candlesticks. One day ago, a bearish candlestick formed. It is too early to know whether a bearish reversal will take place but that will depend on how the price behaves the next few days.
Overview: Overall, all indicators and candlestick patterns suggest that XEMUSD recently experienced a price correction, and is currently in an uptrend and experiencing strong bullish momentum. A long position is recommended, entry price should be set slightly higher than current price for assurance, and stop loss should be set at about -5%.