XLMUSD, In Important Ascending-Channel, Major Decision Incoming!

2021年3月2日

Hello Traders Investors And Community,

Welcome to this analysis about XLMUSD, we are looking at the 2-hour timeframe perspective, the recent events, the established formational structure and what we can expect in the upcoming times. XLMUSD recently is one of the more volatile currencies moving to the up and down and especially after this major drop has occurred and XLMUSD is mingling in the structure with some supports holding I discovered a decisive formation currently forming by XLMUSD that will be the determining source in the upcoming times, therefore it is necessary to keep patient and elevate how the dynamics develop, therefore I detected all the important levels and likely destinies we should consider with XLMUSD ahead upcoming times.

Structural Developments:
As when looking at my chart now we can watch there that XLMUSD is establishing this ascending-channel-formation marked in my chart with the blue boundaries, in this formation XLMUSD has a coherent wave-count in which it already completed the waves A to D in the schedule and now XLMUSD is about to form the wave E that will finalize the whole wave-count, this wave E will run directly into the strong upper resistance-cluster marked in my chart in red from where a pullback to the downside is very likely and should be expected especially with the fact that XLMUSD will also complete the whole wave-count then this should be expected and after that crucial consideration will come within the decision-zone.

Upcoming Determinations:
Taking all these factors into the consideration, XLMUSD is in a situation where the completion of the wave-count and the following likely pullback will decide within the decision-zone marked in my chart either XLMUSD manages to hold this level right away and builds upon it or it falls below the boundary and continues bearishly to the downside, these two main scenarios need to be elevated in this case nevertheless XLMUSD has overall also good supports on the global perspective so a breakdown of the channel can lead to a potential stabilize and building up below the channel. The next time it is necessary to keep patient and look where the market is moving before overspeculating it in a one-sighted direction.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
"Trading effectively is about assessing possibilities, not certainties."

Information provided is only educational and should not be used to take action in the market.