Supply zones: $0.96, $0.99, $1.04
Demand zones: $0.84, $0.75, $0.64
WAN/USD Medium-term Trend: Ranging
WAN started ranging immediately the downward movement of the WAN/USD were interrupted
at the demand zone of $0.84 a few days ago by the bullish force and the price could not break out
the demand zone of $0.83 and the supply zone of $0.96. Yesterday the bullish pressure moved
the price towards the supply zone of $0.96 but rejected. The bulls’ pressure was lost and the
price could not break the strong supply zone of $0.96; this was confirmed by the formation of an
upper long wick bullish candle at the supply zone.
The price is above the 10-day EMA and 50-day EMA. The 10-day EMA has crossed the 50-day
EMA upward. The stochastic oscillator 14 is above 50 levels and its signal lines point upward,
thus signaling an upward movement.
WAN is ranging between the supply zone of $0.96 and the demand zone of $0.84. The 4-hour
opening candle formed today at the supply zone of $0.96 was a Doji candle which connotes
indecision. A breakout at the supply zone or breakdown at the demand zone is imminent
therefore traders should be patient and wait before taking a trade.
WAN/USD Short-term Trend: Bullish
The price was rejected at the demand zone of $0.84 yesterday by the formation of a strong
bullish candle which indicates the bulls’ force. The price could not break the supply zone of
$0.96 and started consolidation.WAN is bullish in the short-term outlook.
Currently, the Price is toward the supply zone of $0.96.The price is above 10-day EMA and 50-
day EMA with the MACD above zero regions with signal lines Pointing upward which indicates