Outlook: On the 1D time frame, the price is still trading within a bearish channel/structure.
Bullish Scenario:
To shift momentum to the upside, the price must first break above Resistance 1 (1.103). A confirmed breakout above this level could open the way toward the breakout line. If the breakout line is cleared with strong volume, the next target is Resistance 2 (2.231). A sustained move above Resistance 2 could pave the way for a rally toward Resistance 3 (4.961).
Bearish Scenario:
If the price fails to break above Resistance 1 and falls below the breakdown line, it could trigger further downside continuation, confirming bearish pressure.
Bullish Scenario:
To shift momentum to the upside, the price must first break above Resistance 1 (1.103). A confirmed breakout above this level could open the way toward the breakout line. If the breakout line is cleared with strong volume, the next target is Resistance 2 (2.231). A sustained move above Resistance 2 could pave the way for a rally toward Resistance 3 (4.961).
Bearish Scenario:
If the price fails to break above Resistance 1 and falls below the breakdown line, it could trigger further downside continuation, confirming bearish pressure.
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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.