May closed with strong momentum and this pair still has more room to the upside.
Last week we saw a weekly close however our MAs are still upward facing - this is the result of a deep pullbacl highlighted in the lower time frames.
Clear higher lows and higher highs on the daily TF. Our MAs are also upward facing, in alignment with the weekly TF. We have also produced a new higher high and a higher low, indicating more upward momentum.
Higher highs and higher lows in the H4 TF, last week we had a deep pullback to the 61.8% level where price rejected and formed a . This rejection also completes the formation of a higher low. We have also broken our CTL and have an MA crossover to the upside on the H1. The last 3 candles also form a , great indication of upside movement.