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.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.