Technical reasons for long position
A)A bullish hammer has formed at the demand zone on the daily chart
B))Divergence on 4 hour chart at the supply zone on the the RSI and awesome indicator
C)Price has closed above 14 SMA and 14 EMA on the 4 hour chart.
Previous resistance levels at 0.382 and 0.5 Fibonacci levels at the daily chart.
On Monday during the Asian trading session in South Korea and Japan is a public holiday so do not expect to much volatility during those hours.
South Korea - Hangul Day
Japan - Health-Sports Day
I will be looking for reversal signs around the 0.382 Fibonacci level or 0.5 where the 200 SMA is on the 4 hour chart could also be resistance. Long term i do believe the US Dollar will become more bullish and will break the previous support zone.
A)A bullish hammer has formed at the demand zone on the daily chart
B))Divergence on 4 hour chart at the supply zone on the the RSI and awesome indicator
C)Price has closed above 14 SMA and 14 EMA on the 4 hour chart.
Previous resistance levels at 0.382 and 0.5 Fibonacci levels at the daily chart.
On Monday during the Asian trading session in South Korea and Japan is a public holiday so do not expect to much volatility during those hours.
South Korea - Hangul Day
Japan - Health-Sports Day
I will be looking for reversal signs around the 0.382 Fibonacci level or 0.5 where the 200 SMA is on the 4 hour chart could also be resistance. Long term i do believe the US Dollar will become more bullish and will break the previous support zone.
