The price broke the downtrend line and now it is trying to move above SMA100. It tells us that buyers are active and they have some power to push the market upward.
MACD histogram and lines are supporting the upward movement. DMI is bullish and ADX line starts an upward movement. These signals support the bullish market conditions and we should search for buy opportunities.
If the price can break SMA100, it will be a signal confirming the trend reversal. The market will be able to move upward and reach the 1st resistance formed by 1.71000 and SMA200.
For buying, we will have to wait for a retracement after the breaking SMA100. Only after that, it will be possible to open buy positions based on the daily and hourly timeframes.
MACD histogram and lines are supporting the upward movement. DMI is bullish and ADX line starts an upward movement. These signals support the bullish market conditions and we should search for buy opportunities.
If the price can break SMA100, it will be a signal confirming the trend reversal. The market will be able to move upward and reach the 1st resistance formed by 1.71000 and SMA200.
For buying, we will have to wait for a retracement after the breaking SMA100. Only after that, it will be possible to open buy positions based on the daily and hourly timeframes.
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