Technical Analysis 22-May-2019
As seen on the 4-hour chart, the price seems to have broken its trend line, but is now coming back to that again. Of course, if we look at the daily timeframe, we see that the, consolidation of the price has not been made below this line. Therefore, there is still no certainty that this line has been break down. Therefore, it is better to have a look at the price for this line at this time. In the event of any reaction to the price, previous analysis and the goals are true
Prices take place in the wedge pattern and move on the blue channel. Now the price has hit the upper line of channel and is falling. We expect target at lower line of channel around 1.1050.
The price has risen to upper line of the channel after reaching the bottom of the channel. We wait again to come back to the lower line of the channel and enter in long position again. The goal of the future can also be the 112 range.
The price has reached the lower line of the channel. This bottom corresponds to a level of 100% Fibonacci Expansion of the previous movement. We are actually looking forward to a reaction to the price of this line. If the return signs appear, we will enter the long position otherwise we can enter short.
The price is fluctuating between the support and resistance area. Now it is located on the ground of support area. In the event of a collision with the support and the appearance of the return sign, we enter the long position.
Prices are falling in the vicinity of the upper line of channel. In fact, it has created a small channel in the larger channel. Can be short at the upper line of the channel. We expect this drop to reach the level of 0.6420, which completes the triple top pattern in the daily period.
The price hit its channel to the lower line of the channel and it’s back. We expect to move up to the upper line of the drawn channel. We know the current target at 0.7070.