Title
Bullish Momentum to Extend?
Type
Bullish Breakout
Preference:
Price is showing strong bullish momentum, buy at market (pivot point of 0.65830); we could see momentum carry price up to its 1st resistance at 0.66233 which is a swing-high resistance level.
Alternative scenario:
If price reverses from the pivot point, it could hit the 1st support at 0.65483 which is a pullback support level.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.