The pair has started to rebound after last week's Higher Low within the 1M Channel Up (RSI = 61.167, MACD = 0.070, Highs/Lows = 0.0555). The 1D RSI has still room to rise before reaching the 68.35 - 72.00 peak zone. Since every Higher Low within the Channel Up has extended at least a +4.83% we calculate the next Higher High around 4.4500. Our Target Zone is 4.4000...
Pattern: 1D Channel Up. Signal: Bullish as it is approaching the Higher Low zone of the pattern. Target: 4.3800 (based on the Higher High dif). *note if the 1D MA50 breaks potential decline towards the 1D MA200 (strongest long term buy signal).
Pattern: Channel Up on 1D. Signal: Bearish after a Higher High was made at 4.2800. Target: 4.2020 (potential Higher Low and Support).
Weekly trending upwards - Lagging span above cloud - Future cloud bullish - Conversion > Base line - Price above cloud Daily trending upwards - Lagging span above cloud - Future cloud bullish - Conversion > Base line - Price above cloud
Pattern: 4H Channel Down. Signal: Bearish only if the 1D Higher Low support line breaks downwards. Target: 4.1500 (1D Support).
An analysis of steps and trends. USD will retest the support and continue to rise to break the resistances.
The price is trading within a 1D Channel Up (RSI = 56.303, MACD = 0.018, B/BP = 0.0098) and is near completing its Higher Low (Highs/Lows = 0.0000). The next Higher High extension should be near 4.18138. Long with TP = 4.16950.
I will accept any comments on this market .
USDRON is consolidating on a Higher Low on the 1D Channel Up (RSI = 54.485, Williams = -49.880, Highs/Lows = 0). Taking a long, TP = 4.04165, but as you see on a very tight SL.
Pros Correction of the 50% of the last downtrend Touched the long uptrend The USD has a strong macro uptrend Exit from lateral consolidation/triple bottom Divergences on week chart The objetive is at 38.2% of the last downtrend Cons The last daily candle is bad. Strategy Buy a half at market price Buy the other half on a pullback
After the stop loss, we have a sense of security at 100% and give yourself a good chance. D obviously changed to this D+. After a month or later, we could reach a good price when we hit the line. When the price goes up, we will move the stop up. If we stop the loss, we can buy more again, until the long run is successful, and wish the traders good luck.
USD is tough these days. Any news or tweets can swipe your setup off the ground in a split second. That's why in times like these I look towards less popular pairs. RON have been fairly easy to work with. It just did a second tap on 4.1743 resistance. It might break it and find support at 200MA (short). Or wait to see if it breaks the 10EMA (long). RSI and MACD is...
USD/RON completed a bearish shark pattern
PRICE SEEMS TO BE REVERSING FROM 4.1 ZONE WHICH HAS RESISTED PRICE MULTIPLE TIMES IN THE PAST IN WE GET THE RIGHT TYPE OF BEARISH CANDLE TODAY WILL LOOK TO ENTER AND TARGET THE 3.94 ZONE