Ichimoku Analysis (4-hour chart)
Tenken-Sen- $1.143
Kijun-Sen- $1.143
AXLUSD was one of the best performers today.
Any daily close above $1.35 confirms further bullishness.
AXLUSD consolidated in a narrow range between $1.35 and $0.93. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $1.31 and is currently trading around $1.1850.
The bullish invalidation can happen if the pair closes below $0.85. On the lower side, the near-term support is $1. Any break below targets $0.80/$0.60. Significant downtrend if it breaks $0.42.
The immediate resistance stands at around $1.35. Any breach above confirms a minor pullback. A jump to $1.60/$1.90 is possible. A surge past $2 will take it to $3.
It is good to buy on dips around $1 with SL around $0.60 for TP of $1.90
