This pair is showing us bullish movements and here are a few things I see:
Higher Highs
Summary:
Price is finding support near our trendline, after creating a new low, if this candle closes above the trendline I assume the bulls are active. We might find some resistance pushing up from the previous bearish candlestick near the upper level inside the triangle.
The Goal:
Price will rise out of this zone/wedge created, retest our trendline with a bullish candlestick, and push up towards the 1.73576 area.
The Con:
If price happens to breach below our trendline, and retest with a bearish candlestick pattern, I'll assume a push towards our lower level will be the better entry.
What do you think about this analysis? Would you like to see more? Let me know in the comments, giving a like on this, or reaching out via Direct Message! - ecryptfx
Higher Highs
- Shown on higher and this timeframe
- Most see this as an indication of price being bullish
- As seen at the current low, wicks, and candlesticks
- Bullish Engulfing are being shown
Summary:
Price is finding support near our trendline, after creating a new low, if this candle closes above the trendline I assume the bulls are active. We might find some resistance pushing up from the previous bearish candlestick near the upper level inside the triangle.
The Goal:
Price will rise out of this zone/wedge created, retest our trendline with a bullish candlestick, and push up towards the 1.73576 area.
The Con:
If price happens to breach below our trendline, and retest with a bearish candlestick pattern, I'll assume a push towards our lower level will be the better entry.
What do you think about this analysis? Would you like to see more? Let me know in the comments, giving a like on this, or reaching out via Direct Message! - ecryptfx