Reasons for my call:
1) Just bounced off the 0.618 Fib level
2) Just bounced off the bottom trend line of a broadening ascending wedge
3) RSI stochastics just moved up from a buy zone, MACD's momentum seems to be swinging upwards
4) Bounced off lower Bollinger Band
Target for a long trade:
First target: 1.112 to 1.115
Why? At the supply zone formed by Sep to Nov's price structure last year
Second target: 1.137
Why? At the top of this year's Jan to Mar's price structure
What do you guys think? Let me know!
1) Just bounced off the 0.618 Fib level
2) Just bounced off the bottom trend line of a broadening ascending wedge
3) RSI stochastics just moved up from a buy zone, MACD's momentum seems to be swinging upwards
4) Bounced off lower Bollinger Band
Target for a long trade:
First target: 1.112 to 1.115
Why? At the supply zone formed by Sep to Nov's price structure last year
Second target: 1.137
Why? At the top of this year's Jan to Mar's price structure
What do you guys think? Let me know!