USDCNH: The Move Isn't Now, But The Future Should Be Up
Friends
Just came across this out of no where, I'm not looking at the here and now of this stock, I'm looking into the future.
We are currently in consolidation, and we have not left this range for some time. We have seen higher highs in this consolidation area, and we have a nice fibonacci confluence, long term zone, which lands on the area of consolidation.
I would expect after this accumulation, there will be a nice up move and for the longer term picture we will be looking to go, for the remainder of the year I would have thought.
NOTE: The moving averages are converging, usually this sort of action leads to an integral, sustained price move, when the breakout is proper.
Obvious breakout level is above the line of the recent resistance.
Good luck to all,
King regards
Tom
Just came across this out of no where, I'm not looking at the here and now of this stock, I'm looking into the future.
We are currently in consolidation, and we have not left this range for some time. We have seen higher highs in this consolidation area, and we have a nice fibonacci confluence, long term zone, which lands on the area of consolidation.
I would expect after this accumulation, there will be a nice up move and for the longer term picture we will be looking to go, for the remainder of the year I would have thought.
NOTE: The moving averages are converging, usually this sort of action leads to an integral, sustained price move, when the breakout is proper.
Obvious breakout level is above the line of the recent resistance.
Good luck to all,
King regards
Tom