🔍 1. Trend Analysis
Past Trend:
From June 10 to around June 14, the price was in a strong uptrend, moving within an ascending channel (highlighted in red and blue).
After mid-June, the trend reversed into a downtrend within a descending channel (also shown in blue).
Current Position:
Price is now breaking out of the descending channel, potentially signaling a trend reversal or short-term recovery.
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📈 Support and Resistance Levels
Key Resistance Levels:
3,347.944 – Intermediate resistance.
3,373.423 – Major short-term resistance and target zone.
Key Support Levels:
3,306.252 – Immediate support below current price.
3,275.459 – Strong support zone (highlighted in red), price bounced here multiple times.
---
📉 Pattern Observations
Reversal Pattern:
The recent bounce from 3,275–3,280 region, with rounded bottoms and breakout from the falling channel, suggests a potential bullish reversal.
Fibonacci Retracement:
A retracement level around 0.8279 appears on the chart, indicating that the price has retraced deeply from a recent swing high—another bullish indicator.
---
📊 Projection and Trading Outlook
Bullish Scenario (as shown by the arrows on the chart):
If the price holds above 3,306.252, it may move toward:
Target 1: 3,347.944
Target 2: 3,373.423
These are marked in blue boxes on the chart.
Bearish Scenario:
If price fails to hold above 3,306.252 and breaks down again:
Next support is at 3,275.459 (major demand zone).
A breakdown below this zone could signal further downside.
---
🧠 Market Sentiment & Cues
Multiple Touchpoints (Orange Circles): Suggest validity of both uptrend and downtrend channels.
Volume Missing: No volume data is present, which would help confirm the breakout’s strength.
Risk Events (Flag icons): These may indicate upcoming US economic events, which could bring volatility.
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✅ Conclusion
Neutral-to-Bullish Bias short term, especially if price holds above 3,306.
Watch for confirmation above 3,347 for further upside.
Risk increases if price drops back into the red demand zone (< 3,275).
Past Trend:
From June 10 to around June 14, the price was in a strong uptrend, moving within an ascending channel (highlighted in red and blue).
After mid-June, the trend reversed into a downtrend within a descending channel (also shown in blue).
Current Position:
Price is now breaking out of the descending channel, potentially signaling a trend reversal or short-term recovery.
---
📈 Support and Resistance Levels
Key Resistance Levels:
3,347.944 – Intermediate resistance.
3,373.423 – Major short-term resistance and target zone.
Key Support Levels:
3,306.252 – Immediate support below current price.
3,275.459 – Strong support zone (highlighted in red), price bounced here multiple times.
---
📉 Pattern Observations
Reversal Pattern:
The recent bounce from 3,275–3,280 region, with rounded bottoms and breakout from the falling channel, suggests a potential bullish reversal.
Fibonacci Retracement:
A retracement level around 0.8279 appears on the chart, indicating that the price has retraced deeply from a recent swing high—another bullish indicator.
---
📊 Projection and Trading Outlook
Bullish Scenario (as shown by the arrows on the chart):
If the price holds above 3,306.252, it may move toward:
Target 1: 3,347.944
Target 2: 3,373.423
These are marked in blue boxes on the chart.
Bearish Scenario:
If price fails to hold above 3,306.252 and breaks down again:
Next support is at 3,275.459 (major demand zone).
A breakdown below this zone could signal further downside.
---
🧠 Market Sentiment & Cues
Multiple Touchpoints (Orange Circles): Suggest validity of both uptrend and downtrend channels.
Volume Missing: No volume data is present, which would help confirm the breakout’s strength.
Risk Events (Flag icons): These may indicate upcoming US economic events, which could bring volatility.
---
✅ Conclusion
Neutral-to-Bullish Bias short term, especially if price holds above 3,306.
Watch for confirmation above 3,347 for further upside.
Risk increases if price drops back into the red demand zone (< 3,275).
Trade active
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🔗 t.me/+VTrdWh5R_scwMGM0
✅ All PAIRS SIGNALS PROVIDE FIRST VISIT THEN JOIN
🔗 t.me/+jODseb0iIvxiNjc0
✅ REGISTER UNDER THE WORLD BEST BROKER
🔗 one.exnesstrack.org/a/6yzdfvn1po
✅ All PAIRS SIGNALS PROVIDE FIRST VISIT THEN JOIN
🔗 t.me/+jODseb0iIvxiNjc0
✅ REGISTER UNDER THE WORLD BEST BROKER
🔗 one.exnesstrack.org/a/6yzdfvn1po
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.