Monthly
A clear bullish break and close above 132.00 key area of monthly resistance now turned support. This month so far, we have tested this area again but rejected it so far with a pin. MAs are facing the upside.
Weekly
Clear higher highs and higher lows with strong bullish price action tapping off the weekly resistance area of 134.00. As price tapped this area without a rejection candle, this gives us confidence that the bearish price action thereafter is a pullback. We have also rejected our blue MA in confluence with 132.00 monthly support.
Daily
Again, clear higher highs and higher lows on the daily TF. We have a 3rd TL bounce in confluence with monthly support at 132.00. Today's candle is fairly bullish closing above both MAs signalling a rebound.
H4
Pullback into our preferred fib region bouncing off the 61.8% fib level in direct confluence with the monthly support area of 132.00. We have finally broken our CTL after a long period of consolidation. The last candle was also a bullish engulfing.
A clear bullish break and close above 132.00 key area of monthly resistance now turned support. This month so far, we have tested this area again but rejected it so far with a pin. MAs are facing the upside.
Weekly
Clear higher highs and higher lows with strong bullish price action tapping off the weekly resistance area of 134.00. As price tapped this area without a rejection candle, this gives us confidence that the bearish price action thereafter is a pullback. We have also rejected our blue MA in confluence with 132.00 monthly support.
Daily
Again, clear higher highs and higher lows on the daily TF. We have a 3rd TL bounce in confluence with monthly support at 132.00. Today's candle is fairly bullish closing above both MAs signalling a rebound.
H4
Pullback into our preferred fib region bouncing off the 61.8% fib level in direct confluence with the monthly support area of 132.00. We have finally broken our CTL after a long period of consolidation. The last candle was also a bullish engulfing.