Price just traded the Monthly Pivot Point, after several attempts. This level was the
first target of the correction or retracement. There is also a Flag pattern which is
a bullish pattern, if triggered. We might see profit taking from the level of Monthly
PP and perhaps bulls stepping in. Below stand the Daily Kijun Sen (Eq.line) at
1.1640, Weekly S2 at 1.1628 and the Sma200 around the same level. Upward targets
has to be the Kumo Cloud Resistance and the upper Flag border. A breakout of these
levels will ofcourse create much upward pressure and a possible return to the
trend.
first target of the correction or retracement. There is also a Flag pattern which is
a bullish pattern, if triggered. We might see profit taking from the level of Monthly
PP and perhaps bulls stepping in. Below stand the Daily Kijun Sen (Eq.line) at
1.1640, Weekly S2 at 1.1628 and the Sma200 around the same level. Upward targets
has to be the Kumo Cloud Resistance and the upper Flag border. A breakout of these
levels will ofcourse create much upward pressure and a possible return to the
trend.