There is a possibility for the beginning of an uptrend in KMDUSDTechnical analysis:
. Komodo/USDollar 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 54.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (1.284 to 1.159). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (1.284)
Ending of entry zone (1.159)
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 the reversal patterns is formed in the zone.
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