Day's Range: 3.6110 - 4.5000
Prices trading way below the EMAS on the 1hour chart suggesting oversold conditions.The market price has been falling and it has gone down to our first support now at $3.70 below which it can go to $3.40 and $2.90 ,however looking at the chart pattern it is still trying to break the first support which failure to do so can take the pair back to $4.1 ( which is the pivot point for the day) .
I recommend a buy on dip at $3.44 just above the EMA200 on the 4hour chart and also a little above the second support line at $3.40 with a take profit at $4.10 or $4.49 and a stop loss at $3.
Prices trading way below the EMAS on the 1hour chart suggesting oversold conditions.The market price has been falling and it has gone down to our first support now at $3.70 below which it can go to $3.40 and $2.90 ,however looking at the chart pattern it is still trying to break the first support which failure to do so can take the pair back to $4.1 ( which is the pivot point for the day) .
I recommend a buy on dip at $3.44 just above the EMA200 on the 4hour chart and also a little above the second support line at $3.40 with a take profit at $4.10 or $4.49 and a stop loss at $3.