- XLMUSD has formed almost a double top around 0.4990 and showing a minoir decline from that level.The pair has broken major support of 0.3990 (20- day MA) and declined till 0.369800 almost more thna 20% form high. The pair recovered sharply almost more than 200% from low of 0.144 made on Mar 29th 2018. It is currently trading around 0.3780.
- Short term trend is bullish as long as support 0.3327 (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 0.3327 100 – day MA) and any break below will drag the pair till 0.2971 (50- day MA).
It is good to buy on dips around $0.3400 with SL around $0.2970 for the TP of $0.5150/$0.56.
