The pair has been trading on a long term 1M Channel Down (RSI = 39.566, MACD = -0.016, Highs/Lows = -0.0039) since December 2018. Following the latest Lower Low, the price is now rising towards the 0.6870 1D Resistance which on the 1M Channel Down terms may be a new Lower High. Normally the Lower High tends to be just below or on a marginal contract with the 1D MA200 (orange).
A noticeable feature of the pattern is the Lower High sequence. On each Lower High 11 days are added from the previous peak and this is in fact what helped us to accurately calculate the previous Lower High as seen below.
Our Target Zone is 0.66780 - 0.67000.
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A noticeable feature of the pattern is the Lower High sequence. On each Lower High 11 days are added from the previous peak and this is in fact what helped us to accurately calculate the previous Lower High as seen below.
Our Target Zone is 0.66780 - 0.67000.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial