Upward trend is clearly defined. Strong upward momentum from low at 102.20.
Triangle has been recently formed, with the horizontal support line being quite strong. Price tested it two times unsuccessfully within the last 5 days. This is a double bottom on the lower timeframe.
If price breaks above the last two candlestick-highs a long position will be opened.
Long-time upward trend shows relative lower highs compared to the last upswings. The image above shows it. The vertical lines are the distance between trend wave low and it's high projected to the next wave.
TP2 therefore set not even higher.
Triangle has been recently formed, with the horizontal support line being quite strong. Price tested it two times unsuccessfully within the last 5 days. This is a double bottom on the lower timeframe.
If price breaks above the last two candlestick-highs a long position will be opened.
Long-time upward trend shows relative lower highs compared to the last upswings. The image above shows it. The vertical lines are the distance between trend wave low and it's high projected to the next wave.
TP2 therefore set not even higher.