Daily Chart:
Looking at the daily chart we can see that wma5 has given fresh cross to ema21 which is also slighly tilted up.The immediate ema for testing is ema55 which may be a potential hurdle for wma or ema21.The approcach angle of wma5 is sharp so it seems wma will cross through ema55 and the immediate target is high of doji at 1.9073.MACD is supporting our view.
4H Chart:
Looking at four hourly chart of cable, we observe that it is quite bullish.wma5 has crossed ema200 while ema21 has given fresh cross with ema100.The ema55 is fast approaching ema100.It seems price is under obedience to axis and tossing the sides.No immediate target for clue.
30Min Chart:
As the hourly hcart is not showing any clear picture, we come down to half hourly.
Looking at it, we note that there is bearish divergence on it.The wma5 has once tested ema21 and going to test it again.The potential hurdle is ema55 which comes at 1.8800.Any spike down should be stopped at ema100 at 1.8765.
Conclusion:
Looking at the over all picture of the currency we feel that price may come down a little and then it wll shoot up to 9100 handle.As daily and Four hourly are in bullish mood, any repulsion of wma5 on lower charts may be taken as signal for going long.
N.B. These are human probabilities and only God Almighty knows the future.
kolachi