No trend reversal signal is issued yet!
New Zealand has published Interest Rate Decision and RBNZ Press Conference and the US will release Durable Goods Orders and Wholesale Inventories data. In price chart, the price has ascended significantly. The bullish step does not seem to be ending yet.
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 0.66290 with resistance at 0.66860 which both lines are above the weekly pivot point at 0.65610. 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 overbought area, the MACD line is above the signal line in the positive territory and the Stochastic is showing upward momentum. The ADX is showing buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing an upward trend.
Long positions are recommended towards 0.67000.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.