chart.

Interesting chart. Had the Death Cross back in March and now we have just had the Golden Cross with a nice retrace to strengthen the signal. This is a long term bullish indicator. Normaly I only cover short term moves. But it's never wise to ignore a signal that can ultimately lead to a very nice momentum trade. Short term as we have already had the retrace I can see 0.55 being a valid target.

Have a look at the video for the explanation of a Golden Cross.

Golden Cross