Market Structure & Trend
The pair was in a downtrend, as indicated by the descending trendlines.
Recently, there was a breakout to the upside, suggesting a potential trend reversal or correction.
Key Levels & Zones
Support Zone: Around 0.9500 - 0.9510, where price bounced strongly.
Resistance Zone: Around 0.9540 - 0.9550, where price is currently testing.
If price holds above this level, we could see a continuation toward 0.9569 - 0.9580.
Possible Scenarios
Bullish Continuation: If price stays above the breakout zone (0.9540 - 0.9550), it could head toward the next resistance at 0.9572 - 0.9581.
Rejection & Retest: If price rejects resistance, it might retest the breakout zone before continuing higher.
False Breakout & Reversal: If price breaks back below 0.9530, it could indicate a failed breakout and return to the previous downtrend.
Conclusion
Bias: Bullish above 0.9540, bearish below 0.9530.
Watch for confirmations at key levels before entering trades.
The pair was in a downtrend, as indicated by the descending trendlines.
Recently, there was a breakout to the upside, suggesting a potential trend reversal or correction.
Key Levels & Zones
Support Zone: Around 0.9500 - 0.9510, where price bounced strongly.
Resistance Zone: Around 0.9540 - 0.9550, where price is currently testing.
If price holds above this level, we could see a continuation toward 0.9569 - 0.9580.
Possible Scenarios
Bullish Continuation: If price stays above the breakout zone (0.9540 - 0.9550), it could head toward the next resistance at 0.9572 - 0.9581.
Rejection & Retest: If price rejects resistance, it might retest the breakout zone before continuing higher.
False Breakout & Reversal: If price breaks back below 0.9530, it could indicate a failed breakout and return to the previous downtrend.
Conclusion
Bias: Bullish above 0.9540, bearish below 0.9530.
Watch for confirmations at key levels before entering trades.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.