Price has advanced and broken the trendline and is now
inside the Cloud. It has almost hit the Weekly pivot point
at 0.935. On the upside, Bulls would like to see price
take out the 1.02 level and create a new swing high for
a reversal and to carv out a bottom. The 1.02 level is both
support and resistance and the upper Cloud resistance.
Support from here is both the lower Cloud and the S/R
level at 0.79. If price breaks below that it would be unnatural
after a trendline break we just saw. The break of the trendline
came with a few long green candles which is good for
upside bias going forward.
inside the Cloud. It has almost hit the Weekly pivot point
at 0.935. On the upside, Bulls would like to see price
take out the 1.02 level and create a new swing high for
a reversal and to carv out a bottom. The 1.02 level is both
support and resistance and the upper Cloud resistance.
Support from here is both the lower Cloud and the S/R
level at 0.79. If price breaks below that it would be unnatural
after a trendline break we just saw. The break of the trendline
came with a few long green candles which is good for
upside bias going forward.
