In spite of the bearish trend in this market, I'm bullish. The price moves closer to 1.08000 support zone, and we can see how the market consolidates. Bollinger Bands move to each other, telling us about the further sideways movement. DMI is bearish, but ADX line falls. It is the signal that sellers don't have the power to push the price downward.
If the price breaks SMA20, it will give us the 1st bullish signal. The market has room for upward movement. It will be possible to open long positions with stops below 1.08000 and profit targets at 1.09000, SMA100, and SMA200.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If the price breaks SMA20, it will give us the 1st bullish signal. The market has room for upward movement. It will be possible to open long positions with stops below 1.08000 and profit targets at 1.09000, SMA100, and SMA200.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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