#MCD McDonald’s Daily

General Overview for 22/04/2014:

This pair is in the uptrend  and might hit the price target of $110 before any meaningfull correction will take place. The market moved through key support at the level of 99.09 and now it is moving upward to test the previous high at the level of 101.08 and then move even higher into 101.50 orange rectangle area. If this zone is broken, then  last swing highs will be tested – 103.64. As the NLR model slope is pointing to the north, the current target from 1-to-1 Bullish Flag projection level point to the level of 110.


Support/Resistance:
103.64 – Swing High
101.50 – Demnad Breakthrough Zone
99.09 – Technical Support

Tradaing Recommendations:
Buying the dips is the good strategy here as long as the level of 99.09 provides the support. Good time to open a swing long position.

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About the author

Sebastian Seliga

Aktywny trader, analityk, ekspert metod inwestycyjnych bazujących na teorii fal Elliott'a, geometrii Fibonacciego i nie tylko.

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