Nice confluence:50% retracement +price stalling at 200EMA in H4!
This technical picture is great to play the 1.3360 resistance breakout that occurred a couple of days ago.
After the breakout the price retraced to the 50% of the last impulsive move and is now stalling right above the 200EMA.
The overall trend is bullish which makes it a perfect entry point. In addition to that, the stochastic oscillator is now evolving in oversold territory showing that the downside potential is now limited.
After the breakout the price retraced to the 50% of the last impulsive move and is now stalling right above the 200EMA.
The overall trend is bullish which makes it a perfect entry point. In addition to that, the stochastic oscillator is now evolving in oversold territory showing that the downside potential is now limited.