1. Price candle break out MA 200 on 7 June '23 give strong signal the price movement may change direction to bullish soon.
2. Price candle testing MA 200 on 25 Aug '23 to 29 Aug '23 to shake out weak retailers. Price candles break out MA 200 again on 30 Aug '23.
3. GC (Golden Cross) MA 50 & MA 20 happen on 16 June '23 give another strong signal the price is build up the uptrend momentum and ready for bullish.
4. Price candle with MA 200+MA 50+MA 20 in progress to aligned altogether give sign the price is ready for bullish.
5. Price candle has BO strong resistance (0.935) on 11 Sept '23 and PB may take place to setup a support area and GC. Price candle that BO the last red candle at this support area will be the 2nd EP.
6. EW analysis includes in this TA together with sub wave count. Currently price movement in sub-wave 3 of main wave 3. Sub-wave 3 target profit at 1.49.
2. Price candle testing MA 200 on 25 Aug '23 to 29 Aug '23 to shake out weak retailers. Price candles break out MA 200 again on 30 Aug '23.
3. GC (Golden Cross) MA 50 & MA 20 happen on 16 June '23 give another strong signal the price is build up the uptrend momentum and ready for bullish.
4. Price candle with MA 200+MA 50+MA 20 in progress to aligned altogether give sign the price is ready for bullish.
5. Price candle has BO strong resistance (0.935) on 11 Sept '23 and PB may take place to setup a support area and GC. Price candle that BO the last red candle at this support area will be the 2nd EP.
6. EW analysis includes in this TA together with sub wave count. Currently price movement in sub-wave 3 of main wave 3. Sub-wave 3 target profit at 1.49.
Comment:
Price candle has BO resistance (1.04-1.05). Latest price candle show long upper tails with high volume give signals high selling pressure. Price may PB soon for temporary to form new support. TP for sub-wave III still far away.