1. Jun 18- Jul 1 has created a divergence between price and Stochastic (Observe previous pattern in Dec ‘20 & April ‘21)
2. Price broke strong support (Annual low) of .75000 but could not sustain it, Strong bullish candle closing above support level ( on smaller time frame 1H it showed retest and push up)
Note : If price fails to maintain momentum, then expect a movement downward to .74000 to complete a potential ABCD pattern as movement from swing high to swing low has produced a 50% retracement as Fed is expected to react via FOMC as early as 7 Jul and the USD recovery is envisaged.
2. Price broke strong support (Annual low) of .75000 but could not sustain it, Strong bullish candle closing above support level ( on smaller time frame 1H it showed retest and push up)
Note : If price fails to maintain momentum, then expect a movement downward to .74000 to complete a potential ABCD pattern as movement from swing high to swing low has produced a 50% retracement as Fed is expected to react via FOMC as early as 7 Jul and the USD recovery is envisaged.