FxWirePro: Ripple forms triple bottom at 0.87, good to buy on dips
Major resistance – 1.6000 (200- 4H EMA). The pair has formed a triple bottom at 0.87 and jumped sharply from that level. Intraday term trend is slightly bullish as long as major support 1.25 holds. The major resistance i…
The pair has formed a triple bottom at 0.87 and jumped sharply from that level. Intraday term trend is slightly bullish as long as major support 1.25 holds. The major resistance is around 1.60 (200- 4H EMA) and break above targets 2.09/2.40. It is currently trading around 1.5200.
The near term support is around 1.25 and break below targets 1/0.87. Major weakness only below 0.61.
On the higher side, near term resistance is around 1.60 (200- 4H EMA and 23.6% fibo) and any break above will take the pair to next level till 1.97/2.09. The pair should close above 2.25 level for further bullishness.
It is good to buy on dips around 1.25-1.30 with SL around 1 for the TP of 2.09/2.25
