Daily analysis
Price is re-testing the 1.082 - 1.084 range that it has bounced off several times in the last 9 months.
Todays candle is close to forming a rejection candle at this level. Previously this has resulted in strong bearish movements however the more a structure is tested then the lower the chance of it holding long term.
1H analysis
After the most recent swing high, price is now in a range with a double bottom formation.
If the Daily candle closes and shows a rejection then we may see a break and retest of the 1H range then a move to the downside, likely finding support on the rising long term trend line .
However if the price breaks above this box, re-tests it then moves even higher then we may see price make a new swing high and strong bullish movement.
I am neutral at the moment until I see some confirmation of a new trend.
Price is re-testing the 1.082 - 1.084 range that it has bounced off several times in the last 9 months.
Todays candle is close to forming a rejection candle at this level. Previously this has resulted in strong bearish movements however the more a structure is tested then the lower the chance of it holding long term.
1H analysis
After the most recent swing high, price is now in a range with a double bottom formation.
If the Daily candle closes and shows a rejection then we may see a break and retest of the 1H range then a move to the downside, likely finding support on the rising long term trend line .
However if the price breaks above this box, re-tests it then moves even higher then we may see price make a new swing high and strong bullish movement.
I am neutral at the moment until I see some confirmation of a new trend.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.