We saw a strong monthly close after the crossover in March. We did test 1.8500 but rejected this area with a spike.
Last week a formed as a result of price pulling back after a run. We were firmly supported by 1.8250 as a weekly area of resistance and I believe this week we will close stronger to the upside. EMAs are upward facing.
We opened up the week strong will a close above our 8 . This completed the formation of a . Yesterday we tested the same and rejected with long lower wick. EMAs are upward facing.
Price has pulled back into our preferred fib region and consolidated around the weekly area of 1.8250 as a good confluence. We have broken our CTL and EMAs have crossed to the upside for previous highs as targets.