FOXUSD 12/6/2024

6 thg 12

FOXUSD Daily Chart Analysis

• Between December 2021 and June 2023, FOXUSD experienced a massive downtrend, consistently trading below the 90-day EMA.

• In mid-June 2023, the price began to stabilize, moving sideways along with the 90-day EMA, signaling a potential accumulation phase.

• At the end of November 2023, the price broke above resistance, resulting in a +100% move to the upside. Following this breakout, a pullback occurred, retesting the prior resistance level.

• In January 2024, the price successfully turned this resistance into support, leading to a +370% surge.

• After this rally, the price pulled back between March and October 2024, retesting the same support level. From here, it bounced again by approximately 150%.

• Throughout November 2024, the price consolidated into a bull flag pattern. In the first week of December 2024, the price broke out from this flag, supported by bullish MACD momentum.

Trade Setup (Long):

• Entry: 0.0730
• Stop Loss: 0.0619 (-15.21%)
• Target #1: 0.1461 (+100.14%, 6.59 RR ratio)
• Target #2: 0.4060 (+456.16%, 30 RR ratio)

This setup aligns with strong technical patterns and volume/momentum confirmation. The bull flag breakout, combined with bullish MACD, suggests significant upside potential.