Analysis #FTM 📈
On the daily time frame, the currency is forming an inverted head and shoulders pattern, the currency has exited the descending channel and is trying to hold above the resistance trend line.
The 50 days MA indicator acts as support, which increases the upward momentum.
The currency is now facing a major horizontal resistance at the $0.5200 level. In breaking this resistance, we may see a move towards the next normal resistance at the $1.200 level.
🟢 Expected targets
🎯 $0.630
🎯 $0.740
🎯 $0.970
🎯 $1.200
