Watch for break of resistance point of 2.6, look for daily close above.
Tomorrow opening above 2.6 would be good for some upside moves provided it closes green.
Alternatively a downward move is also possible, all depends on tomorrow opening. a retest of lows of 2.3 or trendline is possible.
19 May is earnings date, could be a catalyst for a rebound should it...
Prices are approaching support where we could see a bounce above this level. Ichimoku cloud and stochastic are showing signs of bullish pressure as well, in line with our bullish bias.
Price is approaching resistance where we could see a drop below this level. Ichimoku cloud is showing signs of bearish pressure as well, in line with our bearish bias.
Price is approaching support where we could see a bounce above this level to our first resistance target. Stochastic is approaching support as well where we could see a bounce above this level.
Price is sitting on a key support level and a break above the trend line could provide the bullish confirmation, currently I am keeping a close watch on how prices play out and would not consider any long positions before the break of the descending trend line
Price is facing bullish pressure from our buy entry in line with our ascending trend line, 50% retracement and 100% extension and a pullback to our buy entry could provide a good opportunity to go long. RSI is seeing a bullish breakout as well.
