Core Idea:
A breakout below the key support zone at 1.4250 – 1.4245 is anticipated, with further downside momentum expected. The current price consolidation near this support suggests weakening bullish pressure.
Technical Justification:
• Support Zone: 1.4250 – 1.4245
• Expected Scenario: After breaking this zone, the price is likely to move towards 1.4180 and further down to 1.4120.
• Invalidation Level: If the price rebounds above 1.4305, the breakout scenario will be invalidated.
Trading Strategy:
• Sell Stop below 1.4245 to confirm the breakout.
• Take Profit 1: 1.4180
• Take Profit 2: 1.4120
• Stop Loss: 1.4305
Conclusion:
The consolidation around the support indicates position accumulation ahead of a potential breakout. Placing a Sell Stop order will allow you to capitalize on this momentum with a precise market entry.
A breakout below the key support zone at 1.4250 – 1.4245 is anticipated, with further downside momentum expected. The current price consolidation near this support suggests weakening bullish pressure.
Technical Justification:
• Support Zone: 1.4250 – 1.4245
• Expected Scenario: After breaking this zone, the price is likely to move towards 1.4180 and further down to 1.4120.
• Invalidation Level: If the price rebounds above 1.4305, the breakout scenario will be invalidated.
Trading Strategy:
• Sell Stop below 1.4245 to confirm the breakout.
• Take Profit 1: 1.4180
• Take Profit 2: 1.4120
• Stop Loss: 1.4305
Conclusion:
The consolidation around the support indicates position accumulation ahead of a potential breakout. Placing a Sell Stop order will allow you to capitalize on this momentum with a precise market entry.
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.