This is a technical directional analysis based off support and resistance.
If we get continued rejection with a strong pivot around 1.55000 range I expect a support retest of 1.54000 and 1.53000 with a 1.54000 break.
If we can break through 1.55000 current retest I expect a potential retest as mapped with the dotted green arrow on charts. Those resistance levels are potential pivots in direction to top resistance of 1.57400.
MACD/SIGNAL have made a slight cross looking for continuation. RSI has been consolidating in overbought zone with low momentum. A break in RSI consolidation will largely help forecast true direction.
Please comment with thoughts and ideas. Thank you.
If we get continued rejection with a strong pivot around 1.55000 range I expect a support retest of 1.54000 and 1.53000 with a 1.54000 break.
If we can break through 1.55000 current retest I expect a potential retest as mapped with the dotted green arrow on charts. Those resistance levels are potential pivots in direction to top resistance of 1.57400.
MACD/SIGNAL have made a slight cross looking for continuation. RSI has been consolidating in overbought zone with low momentum. A break in RSI consolidation will largely help forecast true direction.
Please comment with thoughts and ideas. Thank you.
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