1. A good confluence of support could be found between 1.1610-1.1700 where horizontal swing low, wave C target, 38.2% Fibonacci retracement line up. With a solid support zone, price is now trying to break above the 20-day moving average. Should price close above the 20-day moving average, buyers might come in and push price towards 1.1960.
2. Trendline connects recent higher lows, suggesting a bounce after the third touch. Plus, price broke above the counter trendline and is pulling back to it. A bounce usually occurs after a pullback.
3. RSI (89) is showing a hidden bullish divergence.
2. Trendline connects recent higher lows, suggesting a bounce after the third touch. Plus, price broke above the counter trendline and is pulling back to it. A bounce usually occurs after a pullback.
3. RSI (89) is showing a hidden bullish divergence.