Key Observations:
Price is at the top of the ascending channel – suggesting potential resistance.
Strong supply zone (gray box) around 1.3950 – 1.4000 – price has reacted from here previously.
RSI is near overbought territory – showing possible short-term exhaustion.
Fibonacci retracement levels are marked (0.5, 0.786), hinting at potential pullback targets.
Projected move (curved arrow) suggests a retracement toward 1.3860 – 1.3830 zone (demand/support), before resuming bullish momentum.
🧠 Technical Bias:
Short-term: Bearish correction likely (pullback from resistance zone).
Medium-term: Still bullish while staying inside ascending channel and above 1.3820 – 1.3830 support.
📌 Possible Trading Plan:
Sell setup: Watch for rejection candles or bearish confirmation near current price for a short toward 1.3860 – 1.3830 zone.
Buy setup: Look for bullish reversal signals at the demand zone to ride the next leg higher toward 1.3950 – 1.4000.
Price is at the top of the ascending channel – suggesting potential resistance.
Strong supply zone (gray box) around 1.3950 – 1.4000 – price has reacted from here previously.
RSI is near overbought territory – showing possible short-term exhaustion.
Fibonacci retracement levels are marked (0.5, 0.786), hinting at potential pullback targets.
Projected move (curved arrow) suggests a retracement toward 1.3860 – 1.3830 zone (demand/support), before resuming bullish momentum.
🧠 Technical Bias:
Short-term: Bearish correction likely (pullback from resistance zone).
Medium-term: Still bullish while staying inside ascending channel and above 1.3820 – 1.3830 support.
📌 Possible Trading Plan:
Sell setup: Watch for rejection candles or bearish confirmation near current price for a short toward 1.3860 – 1.3830 zone.
Buy setup: Look for bullish reversal signals at the demand zone to ride the next leg higher toward 1.3950 – 1.4000.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.