Hello everyone!
-On a daily chart, we can see that the price formed a very nice bullish engulfing pattern and that is a very good sign that the bull is gaining power.
-We can also see that the price is respecting a strong support zone so that is another good sign to take a buy order.
-The Stochastic indicator is showing us an oversold zone so we can consider that as an extra confirmation if we decide to go long on this pair.
-Before taking action in Forex, please check the economic calendar and currency strength meter.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
-On a daily chart, we can see that the price formed a very nice bullish engulfing pattern and that is a very good sign that the bull is gaining power.
-We can also see that the price is respecting a strong support zone so that is another good sign to take a buy order.
-The Stochastic indicator is showing us an oversold zone so we can consider that as an extra confirmation if we decide to go long on this pair.
-Before taking action in Forex, please check the economic calendar and currency strength meter.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.