đź“Š Key Elements of the Chart
Trend Line (Blue Upward Line):
Shows a recent uptrend where price has been moving higher.
The price broke below the trend line recently, which is a potential bearish signal.
Resistance Zone (Green box at the top):
Area where the price has struggled to break above (~1.3600 region).
Marked with a red circle indicating a rejection point—price failed to go higher and started falling.
Support Zone (Green box at the bottom):
Strong historical support area (~1.3150-1.3200).
Price previously bounced from here (green arrow below).
Break and Retest Pattern:
Price broke below the trend line.
It's possibly retesting the broken trend line or resistance before heading lower.
Projected Move (Black and Blue Arrows):
Black line shows a potential zigzag bearish path.
Large blue arrow suggests a major drop might happen, targeting the strong support zone.
Horizontal Price Levels:
đź”´ 1.35007: Likely recent high or resistance.
đźź 1.34548: Current mid-level.
🟦 1.33950: Minor support.
🔵 1.32986: Support level near the 200 EMA.
Indicators Used:
Moving Averages (lines following price): Indicate overall trend direction.
Candlestick Patterns: Red (bearish), Green (bullish).
📉 Overall Interpretation
The chart suggests bearish sentiment in the short term.
After a failed breakout above the resistance zone, price has broken the trend line.
If the retest fails to reclaim the trend line, a drop to the support zone (~1.3150-1.3200) is expected.
Traders might look for sell opportunities after confirmation of the trend line rejection.
Trend Line (Blue Upward Line):
Shows a recent uptrend where price has been moving higher.
The price broke below the trend line recently, which is a potential bearish signal.
Resistance Zone (Green box at the top):
Area where the price has struggled to break above (~1.3600 region).
Marked with a red circle indicating a rejection point—price failed to go higher and started falling.
Support Zone (Green box at the bottom):
Strong historical support area (~1.3150-1.3200).
Price previously bounced from here (green arrow below).
Break and Retest Pattern:
Price broke below the trend line.
It's possibly retesting the broken trend line or resistance before heading lower.
Projected Move (Black and Blue Arrows):
Black line shows a potential zigzag bearish path.
Large blue arrow suggests a major drop might happen, targeting the strong support zone.
Horizontal Price Levels:
đź”´ 1.35007: Likely recent high or resistance.
đźź 1.34548: Current mid-level.
🟦 1.33950: Minor support.
🔵 1.32986: Support level near the 200 EMA.
Indicators Used:
Moving Averages (lines following price): Indicate overall trend direction.
Candlestick Patterns: Red (bearish), Green (bullish).
📉 Overall Interpretation
The chart suggests bearish sentiment in the short term.
After a failed breakout above the resistance zone, price has broken the trend line.
If the retest fails to reclaim the trend line, a drop to the support zone (~1.3150-1.3200) is expected.
Traders might look for sell opportunities after confirmation of the trend line rejection.
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Telegram channel 👇👇
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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.
World Best Signals Channel here 🤝
âś… XAUUSD Gold
âś… BTC & other coins
âś… EURUSD
âś… USDJPY
âś… GBPUSD
âś… ETH USD
Telegram channel 👇👇
t.me/+YR37dVM2NG44YTZk
âś… XAUUSD Gold
âś… BTC & other coins
âś… EURUSD
âś… USDJPY
âś… GBPUSD
âś… ETH USD
Telegram channel 👇👇
t.me/+YR37dVM2NG44YTZk
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.