Key Elements & Analysis
1 Previous Price Action
Descending Channel: Highlighted in dark blue indicating a strong bearish trend leading into the present
Previous Ascending Channel A prior short-term bullish correction flag formation before continuing the downtrend
2 Support Zone
A red rectangular zone at the bottom marks a strong support level where price recently bounced suggesting possible demand
3 Projected Price Movement Yellow Path
A W-shaped bullish reversal pattern is forecasted indicating a potential recovery
The movement is expected in 3 phases
Initial bounce from the support zone
Minor pullback
Continuation of the uptrend to the target zone
4 Target Levels
Level Initial Resistance 3326
Level Next Resistance 3345
Main Target 3362 marked in green with a label representing the anticipated bullish target
1 Previous Price Action
Descending Channel: Highlighted in dark blue indicating a strong bearish trend leading into the present
Previous Ascending Channel A prior short-term bullish correction flag formation before continuing the downtrend
2 Support Zone
A red rectangular zone at the bottom marks a strong support level where price recently bounced suggesting possible demand
3 Projected Price Movement Yellow Path
A W-shaped bullish reversal pattern is forecasted indicating a potential recovery
The movement is expected in 3 phases
Initial bounce from the support zone
Minor pullback
Continuation of the uptrend to the target zone
4 Target Levels
Level Initial Resistance 3326
Level Next Resistance 3345
Main Target 3362 marked in green with a label representing the anticipated bullish target
Trade active
Trade closed: target reached
Join Free Forex Signals
t.me/+Lw2yzKfOoWw0YmI0
t.me/+Lw2yzKfOoWw0YmI0
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.
Join Free Forex Signals
t.me/+Lw2yzKfOoWw0YmI0
t.me/+Lw2yzKfOoWw0YmI0
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.