Momentum has crossed over on the 4hr ema once again after price rebounded off monthly dynamic support pushing higher to close back above the daily trendline. Price moved away quickly from the lows after it failed to cross the 78.6 fib retracement level and had already struggled to break the 61.8 level over the last few days in addition to failing to close below the daily support level on Friday.
Price now looks to be bullish and is likely to return to 1.19900 to retest previous day resistance and could continue up to the 1.12300 level
A failed rally is unlikely however price could fail once again bringing us to the lows of 1.18400 again
Price now looks to be bullish and is likely to return to 1.19900 to retest previous day resistance and could continue up to the 1.12300 level
A failed rally is unlikely however price could fail once again bringing us to the lows of 1.18400 again
Order cancelled:
Failed break of consolidation to the upside, no trade