Key Observations:
Break of Structure (BoS): Multiple bullish BoS on H4 and H1 suggest a potential bullish reversal in the coming week.
Demand Zone (DZ): The H1 demand zone is still holding, indicating a possible liquidity sweep before resuming bullish momentum.
Supply Zone (SZ): Two H1 supply zones above current price act as resistance levels.
Critical Level at 103.84: If price breaks below 103.84, a bearish reversal may align with the higher time frame (HTF) bearish outlook.
Support & Resistance: Several significant support and resistance levels are marked.
RSI Indicator: The RSI is around 31.24, indicating the market is approaching oversold conditions.
Outlook:
Bullish Scenario: If the demand zone holds, the price could reverse upwards, targeting the supply zones.
Bearish Scenario: A break below 103.84 may trigger a deeper drop, aligning with the broader bearish trend.
Break of Structure (BoS): Multiple bullish BoS on H4 and H1 suggest a potential bullish reversal in the coming week.
Demand Zone (DZ): The H1 demand zone is still holding, indicating a possible liquidity sweep before resuming bullish momentum.
Supply Zone (SZ): Two H1 supply zones above current price act as resistance levels.
Critical Level at 103.84: If price breaks below 103.84, a bearish reversal may align with the higher time frame (HTF) bearish outlook.
Support & Resistance: Several significant support and resistance levels are marked.
RSI Indicator: The RSI is around 31.24, indicating the market is approaching oversold conditions.
Outlook:
Bullish Scenario: If the demand zone holds, the price could reverse upwards, targeting the supply zones.
Bearish Scenario: A break below 103.84 may trigger a deeper drop, aligning with the broader bearish trend.
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.