Hi
in this analysis we are shorting the instrument as it seems to have reached a certain supply level and there would be chances that we may face less demand .
we may face a small rally before it start to reverse and fall bellow the support zones
but we are mainly bearish on it
the key areas are:
Resistance zone: 1.6800, 1.6580, 1.6530
Support zone: 1.6125, 1.6030, 1.5643, 1.5312
please comment your ideas for better analysis
thanks
in this analysis we are shorting the instrument as it seems to have reached a certain supply level and there would be chances that we may face less demand .
we may face a small rally before it start to reverse and fall bellow the support zones
but we are mainly bearish on it
the key areas are:
Resistance zone: 1.6800, 1.6580, 1.6530
Support zone: 1.6125, 1.6030, 1.5643, 1.5312
please comment your ideas for better analysis
thanks
Note
here we are touching the lower boundary of the support zone so if broken we can see a big fall to 1.5643Note
we have broke trough the two supports and we may have some reversal at this level
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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.