Daily analysis
Yesterday price finally closed above 114.3 level which it tested several times since January.
4H analysis
Current candle is forming an inverted hammer. From this point we may see a retracement which can give us an entry point.
I'm now bullish biased and expecting price to reach 115.9 & 117.4 based on historical levels.
0.382 retracement level will be a conservative entry point and SL set below the 0.682 levle which is also below the price range which may become a new support for price.
Yesterday price finally closed above 114.3 level which it tested several times since January.
4H analysis
Current candle is forming an inverted hammer. From this point we may see a retracement which can give us an entry point.
I'm now bullish biased and expecting price to reach 115.9 & 117.4 based on historical levels.
0.382 retracement level will be a conservative entry point and SL set below the 0.682 levle which is also below the price range which may become a new support for price.