Technical Analysis 8-May-2019
As you can see, the price has repeatedly touched the line drawn in the daily chart but failed to cross it. This time it has returned again. Currently, the price target is on the green trend line and it is around this line now .it should be seen in practice what will price reaction to that. If this line breakout, we will enter into a long position. And in case of returning and breaking down the red trend line, you can enter the short position.
Prices in the wedge pattern are moving in the blue channel. Price after touched with the upper line of the channel, it began to fall, but it has been restored. The overall target is the lower line of the channel and the the pattern. Therefore, the target of 1.1050 can be seen. In the event of a breakdown upper line of the channel, we will have a movement to 1.1300.
As seen, the price breakout lower line of the triangle pattern and is forming a double top pattern. In this situation, moving to the lower line of the triangle pattern formed in the weekly time frame can be a goal.
As already mentioned in the previous analysis, the price broke out trend line its progress in the week before, then pullback to it and began to grow again. Now the price path is visible on the channel and hits the lower line of channel and is coming back. We expect this return to continue until 1.3225. If the lower line of channel breakout, the target will be 1.3000 .
As you can see, the price is in the direction of your move (4-hour interval) in a triangle pattern. Currently, the price swing between the upper line and the lower line of triangle and is around upper line of triangles. In case of breaking the upper line of the triangle, the goal is 1.3600. If price return lower line of the triangle will be target.
Prices on the downtrend have hit the upper line of channel again. Considering the return to the support area, Price breakout support area and had a great sharp movement until lower line of channel but return. In this situation we expect bearish movement again until lower line of channel.
The price of the triangle pattern has broken down and is consolidate under the support area. Hence, we expect a bearish movement until 0.6880.