There is a possibility for the beginning of an uptrend in XMREURTechnical analysis:
. MONERO/EURO is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 47.
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue .
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (109 to 91). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (109)
Ending of entry zone (91)
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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