Ride the Wave: FARTUSD Targets $3 After Breaking Resistance
FARTUSD breaks significant resistance $1.65 after a long consolidation.It hits an intraday high of $1.6900 and is currently trading around $1.63790. Short-term trend remains bullish as long as support $1.15 holds. It tra…
By FxWirePro Team
1 min read
Image from the original EconoTimes article
FARTUSD breaks significant resistance $1.65 after a long consolidation.It hits an intraday high of $1.6900 and is currently trading around $1.63790.
Short-term trend remains bullish as long as support $1.15 holds. It trades above the 55 and 34, 200 and 365 EMA on the 4-hour chart. Near-term support is around $1.50; any close below targets $1.23/$1.15/$1. If the pair closes below $1, it potentially leads to further declines towards $0.79/$0.60.
Immediate Resistance is at $1.70.Any breakout above this resistance confirms bullish momentum and a jump towards $2/$2.48/$3.
Indicators (4-hour Chart)
Directional Movement Index: Bullish
CCI (50): Bullish
Trading Strategy
It is good to buy on dips around $1.50 with a stop-loss set at $1 and a target price of $3.
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