Hi Traders!
The market is in an uptrend.
As you can see it started in the beginning of February and moved around 216 pips until now.
Now it is in a channel and in a retracement move simultaneously.
If we use the Fibonacci Retracement tool we detect that the market reached the 38.2% of Fibonacci.
In addition this area is a support too.
The target is at the top of the movement at around 0.98500.
We recommend to buy the breakout of the channel!
Thanks and good luck :)!
The market is in an uptrend.
As you can see it started in the beginning of February and moved around 216 pips until now.
Now it is in a channel and in a retracement move simultaneously.
If we use the Fibonacci Retracement tool we detect that the market reached the 38.2% of Fibonacci.
In addition this area is a support too.
The target is at the top of the movement at around 0.98500.
We recommend to buy the breakout of the channel!
Thanks and good luck :)!
Note
Look at the wedge from where the market broke out!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.