Last week showed a break to the upside of a descending channel, showing bullish momentum. On the daily chart the candlestick has been using the ma as support. On the 4hr chart can see a break of a wedge to the upside and rejection at the 50% fib retracement level. I am looking for long opportunity after the close of 4hr candlestick above the wedge before entering a buy position toward previous resistance at 1.63.
Comment:
last week showed a break to the upside of a decending channel on the weekly chart*