We are currently back at the top of the channel we have been going down in the last few days.
The MACD is edging upward and there is plenty of room for the RSI to move above the 50.
We are holding above the major moving averages so in my noob opinion the only thing lacking here is the pressure that can be created by volume. Volumes have been low and 'sluggish' over the last few periods.
For now I am waiting to see what happens. If we see a break below the short-term upward channel we will probably see the low 1.20s. If that doesn't hold we will go all the way to 1.1 and down to psychological 1 and even lower to 0.9 if that doesn't hold.
If we se some decent volumes and we can close above the channel and retest successfully then we can see a move up to 1.65 (if we get past the 1.5 where alot of guys may take some profits) and all the way to 1.9 above which we may see some new multi-year highs just above 2.05. Above that is long-term and we will probably have another wave down before we see ATH territory.
Not fin advice, do your own analysis.
Any constructive critiscism is welcome.
The MACD is edging upward and there is plenty of room for the RSI to move above the 50.
We are holding above the major moving averages so in my noob opinion the only thing lacking here is the pressure that can be created by volume. Volumes have been low and 'sluggish' over the last few periods.
For now I am waiting to see what happens. If we see a break below the short-term upward channel we will probably see the low 1.20s. If that doesn't hold we will go all the way to 1.1 and down to psychological 1 and even lower to 0.9 if that doesn't hold.
If we se some decent volumes and we can close above the channel and retest successfully then we can see a move up to 1.65 (if we get past the 1.5 where alot of guys may take some profits) and all the way to 1.9 above which we may see some new multi-year highs just above 2.05. Above that is long-term and we will probably have another wave down before we see ATH territory.
Not fin advice, do your own analysis.
Any constructive critiscism is welcome.