the price line is resting at the bottom of a ascending channel
AIG Performance of Service Index and Trade Balance were released in Australia and the US will publish Non-Farm Productivity, Labor Cost and Unemployment Claims. The effects of these news will manipulate the trend, Here we analyze the chart to see if we can find any signal about what is going to happen in the next few days.
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 0.63730 with resistance at 0.64990 which the weekly pivot point at 0.64580 is located in between the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in high ranges, the MACD line is on the signal line in the neutral territory and the Stochastic is showing upward momentum. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a downward trend.
Long positions are recommended towards 0.65500.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.