Technical Analysis pounds / dollars.
Technical indicators: MACD cut downward and upward stochastic. Stockings bulls 30 to 200 sessions.
Structures and Fibs: The par achieves two goals upward after cancel the figure of Double Bottom formed during the months of April-May.
The upside targets achieved were as follows:
1. According momentum alcohol objective 1.5733 approx.
Two. Figure of Double Floor objective 1.6012 approx.
* BOTH PROPOSED OBJECTIVES WERE MY ONLINE SEMINARS FOR THURSDAY TRAINING CENTER TRADERS.
In this chart short term as we meet the objectives of second upward momentum andDouble Bottom . We can also see how it nullifies the purpose of Double Floor proposed towards 1.6211 approx. The latter objective was proposed in my last analysis of the last dayJune 11.
In this second graphic medium term bottom look at the structure of prices. After rising level exceeded 61.8% and activated the invitation to return to the highs of June ended reaching the target area, fulfilling our analysis in the Traders Training Center.
Currently we have overcome the area up 61.8% of large bass module maxima born in January , so also activate the invitation coach back to the starting area, that is, the 1.6383 approx.Activated also a figure of Double Bottom one upside target around the 1.6706 approx. Price trading above the 200 day moving average and target expansion pending in 1.6478 approx.
Bias Value: Bullish in the short and medium term.
Support and Resistance: support in the 1.5900 and resistance at 1.6260.
Our recommendation: Close in target area.