While the price is above the support 1.4750, beginning of uptrend is expected.
We make sure when the resistance at 1.5360 breaks.
If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid.
While the downtrend #1 is not broken, wave in price would continue.
A trough is formed in at 1.4905 on 04/02/2019, so more gains to resistance(s) 1.5115, 1.5195, 1.5285 and maximum to Major Resistance (1.5360) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
( ) is 50.
. There is a possibility of temporary retracement to suggested (1.4820 to 1.4860). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (1.4820)
Ending of entry zone (1.4860)
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
TP1= @ 1.4915
TP2= @ 1.5010
TP4= @ 1.5195
TP5= @ 1.5285
TP6= @ 1.5360
TP8= @ 1.5640
TP9= @ 1.6150