On D1, the price rose above the Ichimoku cloud, which is directed downwards. Also, earlier was found the support at the level of 61.8% by Fibonacci.
In general, the downward movement from August 21 to September 5 can be identified as a correction.
The upward impulse is well seen on H4, which may be the first impulse for the continuation of medium-term growth.
RSI...
At D1, the cloud is directing downward, indicating a downtrend.
The price broke the uptrend line and divergence between the RSI and the price was formed.
At H4, the cloud is directed downward, which indicates a downtrend. In addition, the RSI has reached the oversold level, which indicates that the sharp decline will soon stop and the price correction will begin...
H4
At D1, the cloud is directing upward, indicating an uptrend. On H4, the cloud is directing downward, indicating the formation of a correction for D1.
Conclusion:
We recommend buying when the RSI reaches an oversold level on the H4.
H1
At H4, the cloud is directing downward, indicating a downtrend. At H1, the cloud is directing upward, indicating the formation...
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I expect the completion of the correction for XMRUSD and the continuation of price growth within the framework of wave 5.
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