After a considerable amount of time below the three Simple Moving Averages, the price has now gone above the three. This is a bullish indication. And while the price is contained above the three SMAs, I expect a surge to the upper side with my take profit being fixed at $972.32. The ideal is to wait for a breakout above the recent highest high, then look for a long position with your take profit at $972.32. On its way upwards, you may take profits around $540.80, $742.25 and $825.10. If is the break above these lines that will push the price towards $972.20.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Imelda Maseno
Analyst of «FreshForex» company
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