The pair is on a strong 1D uptrend since it found support in September on the 1D MA50 and is close to the overbought zone (RSI = 71.170). Yesterday it peaked at 75.000 which is where it was rejected on September 20th. Moreover yesterday's rejection took place on the 1M 4.7825 Resistance, which is holding since late January 2019. As a result we are expecting a...
Pattern: 1W Rectangle.
Signal: Bearish as the price has entered the Sell Zone approaching the 1W Resistance.
Target: 4.7200 (High Volatility trend line above the 1W Support).
Vedem ca bulls au fost scosi cand linia de trend a fost sparta,iar acum se afla o lupte intre bulls-bears,un break + retest pe daily care sa se inchida deasupra unui nivel schimband structura,iar apoi H4 aratand semne de rejectie din nivel pentru un SL bun.
As you can see on the monthly chart, the romanian currency RON, hit the new all time high.
Despide the country”s GDP growth and salary increases, the currency is only going down.
The corrupt government dose”t move a stick to stop this outrageous depreciation.
Buy in: 4.46850
Target: 4.4705
EURRON is on a very long term 1D Rectangle pattern (RSI = 48.105, STOCH = 47.119, Williams = -47.804, CCI = -46.8286, Highs/Lows = 000, all neutral) at 4.6135 - 4.6800, trading sideways since mid-November 2017. You can work withing its Support/ Resistance levels (buy low, sell high) as long as they are not crossed. The next technical TP = 4.6303.
