The exchange rate has reached 0.6900 and has been consolidating here for a few weeks.
If we look at the medium-term structure, the trading range is clear, with the upper end at 0.7300 and the lower end at 0.7000.
The short term price action shows tailed bars that may indicate difficulties for sellers to push further down, and this can become excellent information for trading purposes.
Therefore, in the next few days I will closely follow the exchange rate that, if it confirms with a good trigger on the daily chart, can create uptrends with initial target at 0.7150 and second in the upper part of the trading range at
0.7300.
That's all for today, I wish you a good TRADING SIMPLE!
If we look at the medium-term structure, the trading range is clear, with the upper end at 0.7300 and the lower end at 0.7000.
The short term price action shows tailed bars that may indicate difficulties for sellers to push further down, and this can become excellent information for trading purposes.
Therefore, in the next few days I will closely follow the exchange rate that, if it confirms with a good trigger on the daily chart, can create uptrends with initial target at 0.7150 and second in the upper part of the trading range at
0.7300.
That's all for today, I wish you a good TRADING SIMPLE!