The bulls leapt to the attack. The nearest resistance level 121.78 was broken. We’ve simply been witness to the classical currency pair triangle, breakout to the nearest resistance level 124.13 seems inevitable.
The price is above the moving average 20 MA and 200 MA, which indicates an upward trend.
MACD above the zero line.
The oscillator Force Index crossed the zero line upwards.
In case of breakthrough of the resistance level the following recommendations are:The price is above the moving average 20 MA and 200 MA, which indicates an upward trend.
MACD above the zero line.
The oscillator Force Index crossed the zero line upwards.
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position 122.00
- Take Profit Level: 124.00 (200 pips)
- Stop Loss Level: 121.31 (69 pips)
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position 121.70
- Take Profit Level: 120.18 (152 pips)
- Stop Loss Level: 122.1 (40 pips)