FxWirePro: Stellar/USD trades well above trend line resistance, good to buy on dips
Friday, April 27, 2018 1:23 PM UTC
- XLMUSD has recovered massively almost more than from the low of 0.144 made on Mar 29th 2018. The pair hits high 0.43065 and is currently trading around 0.41500.
- Short term trend is bullish as long as support 0.3400 (100- day MA) holds. The near term resistance is around 0.4620 (Dec 16th 2018 high) and any break above will take the pair to next level till 0.5130 (61.8%)/0.56/0.68 (Jan 26th 2018 high).
- On the lower side, near term support is around 0.3400 (100- day MA) and any break below will drag the pair till 0.2975 (55- day EMA).
It is good to buy on dips around 0.3800 with SL around 0.3200 for the TP of 0.5150/0.5560