Price has been accumulating at this level very well and the candlesticks show some firm bullish behaviour in the chart. Now, I am not suggesting this level is the "holy grail" level where price will go super high. no, we're no where near a true bottom and that's a fact. but, we can take advantage of a short term corrective/impulsive move and book some profits in...
Currency pair is approaching our first support at 128.37 where a strong bounce might occur above this level pushing price up to our major resistance at 130.14.
Stochastic (34,5,3) is also approaching support where a bounce off this level might see a corresponding rise in price.
The price is good for a long position, we can position itself by standing Gartley's...
The strategy chaos fibo alligator allows us to follow the market. We have a set-up for purchases and sales. Entry 15 p. from the letters B. Buy or sell wherever the market goes, we will follow it
On the D1 the currency pair forms a triangle. The triangle is a formation of 6 points, and the entrance to the figure we have at point 7, break of the triangle.
Alternative Scenarios:
In the break of the blue horizontal line a double bottom will form.
W is the formation of the wedge formation that is not confirmed, we do not have a breakthrough test and repulsion...
On a weekly schedule, the pair performed a diamond and a double bottom. Now we have a third point on the trend with a good profit-to-profit ratio.
Alternative Scenarios: In a breakthrough test and repulsion from the trend line, the wedge will be triggered.
