Price Structure & Key Levels
1. Resistance Zone:
- 106.000–106.122: Strong resistance cluster.
- 106.122 (swing high) and 106.000 (psychological barrier) are critical.
- Price rejection here suggests bearish pressure.
2. Immediate Support:
- 105.800–105.900: Near-term demand area.
- A break below 105.800 opens downside toward 105.600 (next support).
3. Critical Floor:
- 105.600: Major support.
- Loss of this level could accelerate declines toward 105.300–105.400.
Market Sentiment & Momentum
- Bearish Bias:
- Lower highs (106.122 → 106.000 → 105.900) indicate selling momentum.
- Price trading below 106.000 (psychological pivot) reinforces downside control.
Tactical Trade Setups
- Short Entries:
- Ideal near 106.000–106.122 (stop-loss above 106.200).
- Target: 105.600→ 105.300.
- Long Entries:
- Only if price holds 105.600 with reversal signals (e.g., bullish pin bar).
- Target: Scalping toward 105.900–106.000.
Always confirm with volume/RSI divergence and economic calendars. Trade safe! 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.