A breakdown looks extremely imminent (on 1D timeframe)
- MA20 and MA50 have converged and are crossing, which could result in a strong price impulse to the upside (likely towards the golden zone $1.04-1.07, before making its way to $1.35)
- Incidentally, the price is also squeezing between the long-term descending trendline and the $0.80 fib support.
- Stoch RSI has successfully cooled off and is now approaching oversold
- RSI has also cooled off from overbought and is back in the goldilocks zone.
- Notwithstanding a fakeout, this could be the long-term trend reversal we have been waiting for.
This is not investment advice, please do your own research.
Happy trading.
Feel free to follow me for regular updates.
- MA20 and MA50 have converged and are crossing, which could result in a strong price impulse to the upside (likely towards the golden zone $1.04-1.07, before making its way to $1.35)
- Incidentally, the price is also squeezing between the long-term descending trendline and the $0.80 fib support.
- Stoch RSI has successfully cooled off and is now approaching oversold
- RSI has also cooled off from overbought and is back in the goldilocks zone.
- Notwithstanding a fakeout, this could be the long-term trend reversal we have been waiting for.
This is not investment advice, please do your own research.
Happy trading.
Feel free to follow me for regular updates.