• The medium-term outlook is in a range-bound market while the short-term is in a bullish trend.
• Patience should be exercised trading the consolidation.

REP/USD Medium-term Trend: Ranging

Supply zone: $20.00, $22.00, $24.00
Demand zone: $10.00, $9.8.0, $9.60

ANGUR continues in a range-bound market in the medium-term outlook. $18.40 in the supply area was the high while $17.59 at the demand area was the low during yesterday session.

Today’s session had the bulls briefly in charge. Market open at $18.04 and with bullish momentum REPUSD rose to $18.57 before closing as an inverted gravestone doji.

Price is below the two EMAs and the stochastic oscillator signal points down at 32% an indication of downward momentum in price within the range.

$19.00 is the upper supply area of the range while $17.50 is the lower demand area of the range. Traders should be patient and wait for price breakout or breakdown with a retest before taking a position.

REP/USD Short-term Trend: Bullish

The bulls took control of the market after bears exhaustion at $17.59 in demand area after the formation of the spinning top, a reversal signal. REPUSD was up at $18.29 before the end of yesterday session.

The bullish momentum was sustained as the market open today on a bullish note at $17.94. Price shot up to $18.57 shortly after opening as bullish momentum build up before the minor correction to $17.84 in the demand area by the bears.

The bullish continuation is beginning as confirmed by the signal of the stochastic oscillator, suggesting upward momentum in price in the short-term.

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