Entry Point: Consider initiating long positions above the pivot level of 0.8485. Target Levels: The first upside target is set at 0.8530, with an extension towards 0.8550 if bullish momentum continues.
Alternative Scenario:
Downside Risk: If the price falls below 0.8485, expect potential targets at 0.8470 and 0.8450.
Technical Outlook:
RSI Analysis: The RSI shows a lack of downward momentum, suggesting a supportive environment for potential gains. Market Sentiment: The outlook remains bullish as long as the price holds above the pivot point of 0.8485. A break below this level could lead to a bearish shift, warranting caution.