Bullish as long as 0.84 holds.
0.84 zone is the key level to determine if the uptrend holds or not.
We could look for PA for additional confirmation to enter a long trade.
Should it be broken, 0.808 would be reach easily.
Price moving in a range.
Slightly bullish as long as 1.215 holds.
I would put a limit at 1.215 to prep market whipping out weak long.
Alternative, a breakout of trench and RT back with a green candle would be a good sign to long
Price is moving strongly upwards.
In trench now, looking to see a reversal at the top of the trench for a LRE retracement trade.
If break upwards, we can easily hit 123.3
3 Scenario that can play out...
I am more inclined to the 1st or 2nd one base on trench analysis.
The reason why 1st scenario is not so supported because of the decline in volume.
2nd scenario gives us a "buy low" entry which is better.
Not so nice candle, but it is worth getting a short for a LRE trade.
Still quite bearish, lets see if it is able to go till the next trench.
Waiting to see more action at the zone at 1.06 zone.
If price breaks up, we would expect a reversal and price could easily visit 1.08
On the other side, If price could not break up, It will visit the lower range of the range - 1.046
It is in a tight range of resistance 0.76 and support at 0.74.
You may trade the range between these 2 zone, alternative, a break of any side would give me a bias of the direction.
It just broke 4.46x main region with STRONG momentum. (Breaking wall with Bulldozer)
Once it is broken strongly UP.. More UPside ahead for this pair..
IMO, Malaysia economy is free fall with bad policy and with the depressed oil price.