The pair has been trending downwards for a long time. However, the pair has tested the round number yesterday “0.55000”. The price barely reached that round number, i believe the spread of the price that wide that could get as much as stop losses and trigger sell stops. After testing the that number the price was pushed up so quickly. I believe that around number “BIG BANKS” went long. Additionally, the pair has found a resistance where price might push down where it was worked as support earlier. I believe that the pair has potential move up till “0.61000” WMA (“Weekly Moving Average” – concept from “DMA HACK”). I believe this scenario below might play out.
Please use proper money management and lot sizes!