On the Monthly timeframe, Price has seen test at 1.20483, a VERY Important Price for Long-term POTENTIAL Targets 1.79550 | 1.59368. Hmmm!
Test at 1.20483 has sent Price to Caption zone 1.25110 | 1.27834.
Inside Caption-zone is Price 1.26210 that gives price 1.34621 potential for upside test.
Understanding the Caption-Zone:
Successful upside breach of 1.27834 is clear setup for Test at 1.33083 for further advance or decline.
As is, price is trading above %50 of most recent Lo-Hi Swings-- Meaning Bulls have upper-hand and potential to drive price outside 1.25110 | 1.27834 Caption-zone into Target 1.33083
Other Targets will include:
1.31714 | 1.31897 | 1.35313 | 1.35552
Looking at Daily Time-frame:
Price is trading above two Caption-zones:
1.24079 | 1.25391
and
1.24526 | 1.25474
Meaning: There's a chance for (Pass or Decline) TEST at 1.26186.
Secondary Tests await at 1.27302 | 1.27832 zone prior to zoned Target 1.33083.
Note: Idea is to complement your research.
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