XLMUSD is consolidating in narrow range after hitting high of 0.46850.The pair has shown a minor decline below 10- day MA and shown a minor recovery of 21%.The pair has broken previous high of 0.4680 yesterday and jumped…
XLMUSD is consolidating in narrow range after hitting high of 0.46850.The pair has shown a minor decline below 10- day MA and shown a minor recovery of 21%.The pair has broken previous high of 0.4680 yesterday and jumped till 0.43710. The pair recovered sharply almost more than 200% from low of 0.144 made on Mar 29th 2018. It is currently trading around 0.4360.
Short term trend is bullish as long as support 0.3400 (100- day MA) holds. The near term resistance is around 0.5130 (61.8%) and any break above will take the pair to next level till 0.56/0.68 (Jan 26th 2018 high).
On the lower side, near term support is around 0.3500-0.3400 (20- day MA&100 – day MA) and any break below will drag the pair till 0.2816 (50- day MA).
It is good to buy on dips around 0.3800 with SL around 0.3400 for the TP of $0.5150/$0.56.
