Price is hammering on the 1.14 S/R level and is looking
poised to pop. Next daily resistance is the Weekly R1 at 1.28
and just above that the S/R at 1.335. If price drops down from
current level, we might see a test of the daily pivot point at
1.105 and a close below that, will expose the lower Cloud on
the hourly chart (right chart). To the upside intraday, we might
see gradual moves along the pivots. Bulls would like to see a
close above 1.14 and better a close above the Weekly R1 to
create more upward momentum. The daily close above the
Kijun Sen (white line) removes bearish pressure and increase
the chances that we have a medium term low in place by the
SMA200 at 0.57
poised to pop. Next daily resistance is the Weekly R1 at 1.28
and just above that the S/R at 1.335. If price drops down from
current level, we might see a test of the daily pivot point at
1.105 and a close below that, will expose the lower Cloud on
the hourly chart (right chart). To the upside intraday, we might
see gradual moves along the pivots. Bulls would like to see a
close above 1.14 and better a close above the Weekly R1 to
create more upward momentum. The daily close above the
Kijun Sen (white line) removes bearish pressure and increase
the chances that we have a medium term low in place by the
SMA200 at 0.57
