We used the theory of price action in order to conduct this analysis, so that we could guide our decision-making process.
Based on the findings of this analysis, we can draw the following conclusions. During this time period, we see the price move inside the Descending Triangle with multiple pull backs and bounces back to the upside. The price is following a downtrend, so it is highly probable that the triangle will break from the lower side. If this occurs, we will see support near 0.90744.
If however the price fails to break the triangle down side and break up side, then we will be looking at the resistance areas of 0.95465 and 0.90.98987.
With this analysis, you will be able to find your most profitable trade, since Enclavefx believes in enhancing the knowledge of our clients & followers.
Based on the findings of this analysis, we can draw the following conclusions. During this time period, we see the price move inside the Descending Triangle with multiple pull backs and bounces back to the upside. The price is following a downtrend, so it is highly probable that the triangle will break from the lower side. If this occurs, we will see support near 0.90744.
If however the price fails to break the triangle down side and break up side, then we will be looking at the resistance areas of 0.95465 and 0.90.98987.
With this analysis, you will be able to find your most profitable trade, since Enclavefx believes in enhancing the knowledge of our clients & followers.
