Since 26 Oct the priceline of ADA / US Dollar is moving within a pennant and now it has reached at end.
Stochastic has given bull cross.
MACD turning bullish .
Ichimoku cloud is strong bullish .
Lagging span is turning bullish and crossing up the priceline.
A Bullish BAT inside pennant is also formed which is pushing the price action to breakout soon.
We have a strong support of 50 simple moving average and a golden cross is expected between 25 SMA and 50 SMA which will push the price action to breakout the pennant.
The long can be taken after breakout and price correction.
This breakout can take the price action easily upto the tail of pennant which is at 0.04480.
So this move can easily produce more than 8% move on 4hr short term time period chart.
Atif Akbar (moon333)