In daily timeframe we spotted support and resistence levels at prices 1.11000 and 1.12500, while the price have been moving downtrend for a while makeing lower-highs and lower-lows.
The price hit the 1.09300 level two times unsuccessfully trying to break through and created a double bottom pattern , after comfirming it the price made a pullback at 1.09900 level , then the buyers came in by moving the price up.
In Daily timeframe we spotted that the price completed the 5th wave (elliot wave`s ) , by starting with ABC corrective waves.
If price breaks throw Daily trendline and 1.11000 level, 1.11000 becomes the support price pushed by the bulls watching foreward to the resistence 1.12500! BUYING after a pullback,after a break through 1.11000 price.
DISCLAIMER: We are not responsible for any of your actions, this post is only for educative purpose.
Instagram: @italian.trader
The price hit the 1.09300 level two times unsuccessfully trying to break through and created a double bottom pattern , after comfirming it the price made a pullback at 1.09900 level , then the buyers came in by moving the price up.
In Daily timeframe we spotted that the price completed the 5th wave (elliot wave`s ) , by starting with ABC corrective waves.
If price breaks throw Daily trendline and 1.11000 level, 1.11000 becomes the support price pushed by the bulls watching foreward to the resistence 1.12500! BUYING after a pullback,after a break through 1.11000 price.
DISCLAIMER: We are not responsible for any of your actions, this post is only for educative purpose.
Instagram: @italian.trader