Technical Analysis
🔸 Chart (Image One):
• There has been a strong and continuous increase in price since June 20.
• A bullish flag pattern has formed and has been broken upwards.
• The area between 0.0071 and 0.0073 is considered strong resistance (a pullback occurred here).
• The price is currently moving sideways (consolidation) around 0.007.
📊 Averages:
• Moving Average MA(5) > MA(10): Confirmed bullish trend currently.
• Volume shows a decline in buying momentum after the peak, indicating a temporary pause or preparation for a new breakout.
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🔻 Thirdly: Trading Data and Price Behavior Analysis (Image Two)
🟡 Open Interest:
• An increase in the nominal value of open interest indicates that many positions have been opened recently = significant interest in the currency currently
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