Looking at the 1day chart, we can see the MACD reversing nicely, though the recent red candle put a dent on the RSI just when it crossed the 50 mark. Trend remains up as it seems we have put a local bottom at 1.6856 region.

There is a small problem for the bulls though as the pattern is now an ascending wedge . This more often than not breaks to the downside.

A look at the 4hr shows that MACD is starting to exhaust itself below the 0 line, meaning we could be headed for a dip soon.

1hr MACD has already crossed into bear territory after that mini dump from 1.9646. However, it is stalling at the demand zone .

The zig-zag through the 200 SMA on the 4hr is doing no one any good so the 200 SMA is not useful at this moment, however, once the 50 SMA crashes below that in another 3 candles or so, the wedge will probably play out.

Looking at the 1day chart, we can see the MACD reversing nicely, though the recent red candle put a dent on the RSI just when it crossed the 50 mark. Trend remains up as it seems we have put a local bottom at 1.6856 region.

There is a small problem for the bulls though as the pattern is now an ascending wedge . This more often than not breaks to the downside.

A look at the 4hr shows that MACD is starting to exhaust itself below the 0 line, meaning we could be headed for a dip soon.

1hr MACD has already crossed into bear territory after that mini dump from 1.9646. However, it is stalling at the demand zone .

The zig-zag through the 200 SMA on the 4hr is doing no one any good so the 200 SMA is not useful at this moment, however, once the 50 SMA crashes below that in another 3 candles or so, the wedge will probably play out.