Price is reacting off a key demand zone after a bearish move, showing potential signs of reversal. Entry is based on bullish rejection at support, aligning with the 9 EMA as dynamic resistance turned potential support. Targeting 1.74203 with a stop below the zone around 1.72305, offering a favorable risk-to-reward ratio. Waiting for bullish confirmation to follow through.
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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.