W1 price is continuing with bullish trend: the price broke symmetric triangle pattern to above for the primary bullish market condition to be continuing. The price is ranging within the following key support/resistance levels:
- 2.7578 support level located above Ichimoku cloud near the border between the primary bearish and the primary bullish trend, and
- 3.0745 resistance level located to be above Ichimoku cloud in the primary bullish area of the chart.
Absolute Strength indicator is estimating the secondary corerection to be started.
If the price will break 2.7578 support
level so the secondary correction will be started within the primary bullish condition with the good possibility to the breakdown of the price movement to the primary bearish market condition.
If the price will break 2.5006 support
level so the price will be fully reversed to the bearish condition without ranging.
If the price will break 3.0745 resistance level from below to above so the primary bullish trend will be continuing.
If not so the price will be ranging between the levels.
- Recommendation for long: watch close W1 price to break 3.0745 for possible buy trade
- Recommendation
to go short: watch W1 price to break 2.7578 support level for possible sell trade
- Trading Summary: bullish
| Resistance | Support |
|---|---|
| 3.0745 | 2.7578 |
| N/A | 2.5006 |
Trend:
