Looking at Cable, price has been bouncing between the Support and Resistance Zone for the last few days.
We are also seeing price sat on the Support currently, we will wait for confirmation of a broken trend before entering.
Key points to take from the analysis;
1. Price is sitting at a key support zone (1.3650)
2. Stochastic Indicator is showing the market is Oversold on the 1hr charts
3. We haven't see the 50 day Moving Avergage cross over the 100 day Moving Average.
I believe we will see a continuation of the Ascending price, if the market breaks the Support, we will look to enter a Short Sell.
My thoughts are a short term Long with a follow up Sell Off in next day or two.
We are also seeing price sat on the Support currently, we will wait for confirmation of a broken trend before entering.
Key points to take from the analysis;
1. Price is sitting at a key support zone (1.3650)
2. Stochastic Indicator is showing the market is Oversold on the 1hr charts
3. We haven't see the 50 day Moving Avergage cross over the 100 day Moving Average.
I believe we will see a continuation of the Ascending price, if the market breaks the Support, we will look to enter a Short Sell.
My thoughts are a short term Long with a follow up Sell Off in next day or two.