ERUCAD OVERVIEW

Tendency: Uptrend ( Bullish )
Structure: Wedge
Observation: i. Price experiences a correction move since impulse leg forming a Wedge represented by connecting two trend lines through respective highs and lows.
ii. The Wedge explains price has been going through a correction move halting at .786 retracement of XA leg.
iii. An engulfing bullish run from 1.43300 gives an insight to the strength of the buyers at this juncture.
iv. Expecting a temporary retracement from Supply zone in anticipation of the bullish rally.
iv. Price slicing through our Moving Averages.
Trading plan: SELL and BUY opportunity with minimum potential profit of 1,500 pips.
Risk/Reward: Depends on point of entry.
Potential Duration: 3.5 months

Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.


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