📊 Key Observations:
1. Uptrend and Trendline Support:
The pair was following a strong ascending trendline.
Price respected this trendline until it broke downwards, indicating a break of bullish market structure.
2. Break of Structure (BoS):
The chart marks a clear Break of Structure (BoS) below the trendline, signifying that buyers lost control and sellers stepped in.
This often suggests a potential trend reversal or at least a deeper correction.
3. Fair Value Gap (FVG):
A Fair Value Gap (imbalance) is highlighted between ~1.1680–1.1830.
This area represents a liquidity void where price moved too quickly in one direction and may return to "fill the gap".
Price is likely to retrace into this FVG, possibly touching the underside of the broken trendline (now resistance).
4. Bearish Retest Zone:
The FVG and trendline intersection make this a strong bearish retest zone.
If price reaches this level, it could act as a supply zone or area of resistance for further downside continuation.
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🔁 What Could Happen Next:
✔️ Bullish Scenario (less likely without fundamentals):
Price breaks above the FVG and reclaims the trendline.
If that happens, bullish momentum could resume with 1.20+ as the target.
❌ Bearish Scenario (currently more probable):
Price retraces into the FVG zone and rejects.
This retest confirms the trendline as resistance.
Bearish continuation toward 1.1400, 1.1300, or even 1.1100 is likely.
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🔑 Key Technical Levels:
Level Type Price Level (Approx)
FVG Upper Bound 1.1830
FVG Lower Bound 1.1680
Support 1 1.1400
Support 2 1.1300
Support 3 1.1065
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🧠 Conclusion:
This chart shows a classic Smart Money Concept (SMC) setup:
Break of structure ➝ Retrace to FVG ➝ Potential bearish continuation. Watch how price reacts around 1.1680–1.1830. That zone will reveal if sellers are still in control.
1. Uptrend and Trendline Support:
The pair was following a strong ascending trendline.
Price respected this trendline until it broke downwards, indicating a break of bullish market structure.
2. Break of Structure (BoS):
The chart marks a clear Break of Structure (BoS) below the trendline, signifying that buyers lost control and sellers stepped in.
This often suggests a potential trend reversal or at least a deeper correction.
3. Fair Value Gap (FVG):
A Fair Value Gap (imbalance) is highlighted between ~1.1680–1.1830.
This area represents a liquidity void where price moved too quickly in one direction and may return to "fill the gap".
Price is likely to retrace into this FVG, possibly touching the underside of the broken trendline (now resistance).
4. Bearish Retest Zone:
The FVG and trendline intersection make this a strong bearish retest zone.
If price reaches this level, it could act as a supply zone or area of resistance for further downside continuation.
---
🔁 What Could Happen Next:
✔️ Bullish Scenario (less likely without fundamentals):
Price breaks above the FVG and reclaims the trendline.
If that happens, bullish momentum could resume with 1.20+ as the target.
❌ Bearish Scenario (currently more probable):
Price retraces into the FVG zone and rejects.
This retest confirms the trendline as resistance.
Bearish continuation toward 1.1400, 1.1300, or even 1.1100 is likely.
---
🔑 Key Technical Levels:
Level Type Price Level (Approx)
FVG Upper Bound 1.1830
FVG Lower Bound 1.1680
Support 1 1.1400
Support 2 1.1300
Support 3 1.1065
---
🧠 Conclusion:
This chart shows a classic Smart Money Concept (SMC) setup:
Break of structure ➝ Retrace to FVG ➝ Potential bearish continuation. Watch how price reacts around 1.1680–1.1830. That zone will reveal if sellers are still in control.
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.