My first public chart here on TadingView!
This is a simple analysis using support and resistance levels and a trending line. The EMA is added to give some more data.
As we can see, de pair is currently on the bottom side off a triangle and getting squeezed between the EMA and the support zone. The levels (support, resistance and diagonal line) on the graph "speak per se".
As price action traders I think at this moment we should wait for good signals.
A move towards the resistance level (around 1.1252) shouldn't be a surprise next week. A close above the EMA can be a trigger for a long position.
Otherwise, if the price breaks the triangle to the downside AND break the support line we could see further selling (maybe after a initial re-test on the inverse side of the broken level / line).
This is a simple analysis using support and resistance levels and a trending line. The EMA is added to give some more data.
As we can see, de pair is currently on the bottom side off a triangle and getting squeezed between the EMA and the support zone. The levels (support, resistance and diagonal line) on the graph "speak per se".
As price action traders I think at this moment we should wait for good signals.
A move towards the resistance level (around 1.1252) shouldn't be a surprise next week. A close above the EMA can be a trigger for a long position.
Otherwise, if the price breaks the triangle to the downside AND break the support line we could see further selling (maybe after a initial re-test on the inverse side of the broken level / line).
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