On the 4H chart, you can see the following:
- A breakthrough of the descending trendline.
- A rest and rejection of the descending trending tend indicating a pattern change.
- RFI is showing that this pair is strengthening.
We should see an impulse to the upside. A good buy entry at this point with a target below the area of resistance.
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- A breakthrough of the descending trendline.
- A rest and rejection of the descending trending tend indicating a pattern change.
- RFI is showing that this pair is strengthening.
We should see an impulse to the upside. A good buy entry at this point with a target below the area of resistance.
Please like or follow if you enjoyed my analysis. Thanks
Comment:
My analysis and prediction is correct so far. We have seen a clear retest and rejection of the aforementioned descending trendline and an impulse to the upside. Take profit before the area of resistance. Thanks