2.200 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 2.200 is broken.
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would...
. While the price is above the support 1.550, beginning of uptrend is expected.
. We make sure when the resistance at 2.250 breaks.
. If the support at 1.550 is broken, the short-term forecast -beginning of uptrend- will be invalid.
. While the RSI downtrend #1 is not broken, bearish wave in price would continue.
. A peak...
The price is taking considerable resistance against the dynamic resistance/trend line.
A strong price rejection can be seen in 4 hours time-frame. This could attract more sellers or even make the existing buyers to change side.
Overall a channel is formed. However, we can see more or less similar volume of buyers and sellers during both corrective and impulse...
The price is consolidating near the recent resistance zone of 1.685 to 1.705.
This implies buyers were able push the price till resistance; but sellers are not strong enough at the resistance point to push the price lower.
But, buyers are able to hold it higher. Anytime the price can burst to next resistance of 1.768 to 1.778.
Hence buying is recommended at...