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🟢Forex Pair:
XRP/USD
⚪Technical Analysis:
Since the 1st of February 2021, the price has been following an interesting trendline, creating with its previous high at about 0.75300 a symmetrical triangle pattern (see the lower highs and higher lows).
On the 12th of February, the price broke a daily S/R zone at about 0.52500 and it re-tested the same level few days later, without breaking the trendline.
It is currently moving bullish, approaching to the dynamic pattern's line.
🔴Conclusion:
I'm confident to follow the current uptrend, so I'll be waiting for a proper breakout of the triangle pattern before getting a long position on this trade.
I would suggest to be aware on the resistance level at about 0.63600, but in a long view I believe will reach its previous high at 0.75000!
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
XRP/USD
⚪Technical Analysis:
Since the 1st of February 2021, the price has been following an interesting trendline, creating with its previous high at about 0.75300 a symmetrical triangle pattern (see the lower highs and higher lows).
On the 12th of February, the price broke a daily S/R zone at about 0.52500 and it re-tested the same level few days later, without breaking the trendline.
It is currently moving bullish, approaching to the dynamic pattern's line.
🔴Conclusion:
I'm confident to follow the current uptrend, so I'll be waiting for a proper breakout of the triangle pattern before getting a long position on this trade.
I would suggest to be aware on the resistance level at about 0.63600, but in a long view I believe will reach its previous high at 0.75000!
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
