📉 Overall Trend:
The pair has been in an uptrend but is now facing a strong resistance zone.
A corrective move to the downside is expected after reaching these levels.
📊 Key Levels:
🔴 Strong Resistance Zone:
1.0958 - 1.0993 (A supply zone that could push the price down).
🟠 Targeted Support Zone:
1.0376 - 1.0335 (A demand area where price may find support and bounce).
📉 Expected Scenario:
1️⃣ The price may reject the current resistance level and start a corrective move downward.
2️⃣ A potential retest of 1.097 - 1.099 could occur before confirming the bearish move.
3️⃣ The downside target is around 1.037 - 1.033, where a strong support level is expected.
🎯 Conclusion: Monitor price action at resistance; if reversal signals appear, selling opportunities could be considered with targets at the mentioned support levels.
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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.