Overall direction on the daily and weekly charts remains bearish, with the pair still in a broader downtrend. However, on the 4H timeframe we now have a potential bullish confirmation at key support areas.
📍 Setup Idea
Price has tested and respected support zones around 18.30 – 18.38.
Bullish reaction from these levels suggests a possible short-term correction before continuing the larger downtrend.
Entry is based on confirmation at these supports, targeting the next resistance area.
🎯 Targets
First target: 18.55
Extended target: 18.62 – 18.70 zone (major resistance).
⛔ Stop-Loss
Below 18.31 support to protect against further downside continuation.
⚠️ Note:
This is a counter-trend buy setup, so risk management is key. I’ll be looking to ride this corrective move upward but will continue respecting the bearish bias on higher timeframes.
📍 Setup Idea
Price has tested and respected support zones around 18.30 – 18.38.
Bullish reaction from these levels suggests a possible short-term correction before continuing the larger downtrend.
Entry is based on confirmation at these supports, targeting the next resistance area.
🎯 Targets
First target: 18.55
Extended target: 18.62 – 18.70 zone (major resistance).
⛔ Stop-Loss
Below 18.31 support to protect against further downside continuation.
⚠️ Note:
This is a counter-trend buy setup, so risk management is key. I’ll be looking to ride this corrective move upward but will continue respecting the bearish bias on higher timeframes.
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.