AXY is approaching its resistance at 7.059 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance) where it is could reverse down to its support at 6.935 (horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
Since the 3/12/18 the pair has been in a descending channel from a level of key resistance.
It can be seen that trending within the channel it has touched both the support and resistance (for confirmation) of it being a valid channel.
As of 29/3/19 price has closed above the previous resistance area, and has shown a slight sign of retracement back to the...
Here we haver a good opportunity to kick start the Monday off with a few pips! We have broken MPAL that lets us know we are in buyers market now and its going strong. Slight divergence here as well. Great pull back to fib 0.618 level now engulfing candle telling us the uptrend is on the move!
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