In this currency pair we expecting price to go bullish; in the 15min chart the price has formed an inverse head and shoulder formation.
The first support of price is at 110.952, the price later break the support at 110.794 and later finds support at 110.050.
Since price fail to fall to previous support of 110.952 it signals buyers are in control,we see price breaking through the neckline to point 111.408 and resting back to the neckline as support (but expect price to breakout of the neckline with high volume).
You can check my next post analysis on a 1hour chart for more information.
The first support of price is at 110.952, the price later break the support at 110.794 and later finds support at 110.050.
Since price fail to fall to previous support of 110.952 it signals buyers are in control,we see price breaking through the neckline to point 111.408 and resting back to the neckline as support (but expect price to breakout of the neckline with high volume).
You can check my next post analysis on a 1hour chart for more information.
