here is an idea about the The MACD indicator charts the convergence and divergence of short term and long term moving averages. MACD shows graphically when the short term movements of price rise or fall faster than the longer moving average would suggest. This indicates the recent trend.
The pair activated positively from this morning after insuring an hourly closing above 1.6150, where this positive closing makes us expect a bullish intraday trend to continue. We currently witness a minor barrier around 1.6245 that will pave a way for more one volatility through breaching it.
The pair neared support 1.4145 highlighted in our morning report, where the pair could start rebounding upwards from. Momentum indicators are showing strength and were able to weaken bearish momentum through it; whereas stochastic entered oversold areas. These factors make us maintain our morning expectations intact, while noting the importance of stability above key support for the upside channel in the chart above.
The pair continues stable trading above 84.00, while continuing to show overbought signs on Stochastic. Hence,we hold onto our morning expectations intact and signs to stability above 84.65 that could fail in case of a pending correction.
The hourly closing below 0.9235 activated the bearish scenario, while the rising wedge pattern was still affecting the pair since signs of weakness were appearing through stochastic and could return to show more negativity.Morning expectations remain valid noting the importance of stability below 0.9330 to resume expectations.
The pair neared support 1.4145 highlighted in our morning report, where the pair could start rebounding upwards from. Momentum indicators are showing strength and were able to weaken bearish momentum through it; whereas stochastic entered oversold areas. These factors make us maintain our morning expectations intact, while noting the importance of stability above key support for the upside channel in the chart above
COMING SOON