Technical analysis:
. Waves/US Dollar is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.7760 to 0.5160). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.7760)
Ending of entry zone (0.5160)
Entry signal:
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:
Take Profits:
TP1= @ 1.2260
TP2= @ 1.7560
TP3= @ 2.4290
TP4= @ 3.2815
TP5= @ 4.1290
TP6= @ 4.9075
TP7= @ 7.6290
TP8= @ 9.8280
TP9= @ 12.0200
TP10= Free
. Waves/US Dollar is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 68.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.7760 to 0.5160). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.7760)
Ending of entry zone (0.5160)
Entry signal:
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= @ 1.2260
TP2= @ 1.7560
TP3= @ 2.4290
TP4= @ 3.2815
TP5= @ 4.1290
TP6= @ 4.9075
TP7= @ 7.6290
TP8= @ 9.8280
TP9= @ 12.0200
TP10= Free