Market considerably bullish on the 4hr and daily charts. Broke through long term resistance at the 0.8540 area. The pair is now trading in uncharted territory having reached new highs.
The break and bounce of the resistance, now turned support can be seen clearly on the hourly chart.
Besides the. fact that the RSI has been recently oversold, we can also see bullish divergence between current low and the lower low from the 18th of March.
Looking for the market to go higher to retest the previous high at the 0.8984 area.
Ideas are simply my observations. Please trade with caution.
The break and bounce of the resistance, now turned support can be seen clearly on the hourly chart.
Besides the. fact that the RSI has been recently oversold, we can also see bullish divergence between current low and the lower low from the 18th of March.
Looking for the market to go higher to retest the previous high at the 0.8984 area.
Ideas are simply my observations. Please trade with caution.