Key Observations:
Support Area:
A brown-highlighted support zone indicates a potential area where price has historically found buyers.
Price recently touched this area and is showing signs of reaction.
Order Blocks (OB):
A Bullish OB is present below the current price, which suggests a potential demand zone.
Bearish OBs are present above, indicating potential resistance.
Fair Value Gaps (FVG):
Several FVG zones are highlighted, suggesting inefficiencies in price that could be revisited before continuing the trend.
Trade Setup:
A long position (buy trade) appears to be placed, targeting 0.97085 with a stop-loss around 0.94465.
This suggests a bullish bias, expecting price to move upwards after rejecting the support.
Bullish Scenario:
If price holds above the support area and fills the nearby FVGs, it could aim for the 0.96000-0.97000 range.
Breaking above the Bearish OBs would confirm further upside.
Bearish Scenario:
If price fails to hold the support and breaks below 0.95000, it could continue downward to 0.94465 or lower.
Rejection at the Fair Value Gap above could push price back down.
Support Area:
A brown-highlighted support zone indicates a potential area where price has historically found buyers.
Price recently touched this area and is showing signs of reaction.
Order Blocks (OB):
A Bullish OB is present below the current price, which suggests a potential demand zone.
Bearish OBs are present above, indicating potential resistance.
Fair Value Gaps (FVG):
Several FVG zones are highlighted, suggesting inefficiencies in price that could be revisited before continuing the trend.
Trade Setup:
A long position (buy trade) appears to be placed, targeting 0.97085 with a stop-loss around 0.94465.
This suggests a bullish bias, expecting price to move upwards after rejecting the support.
Bullish Scenario:
If price holds above the support area and fills the nearby FVGs, it could aim for the 0.96000-0.97000 range.
Breaking above the Bearish OBs would confirm further upside.
Bearish Scenario:
If price fails to hold the support and breaks below 0.95000, it could continue downward to 0.94465 or lower.
Rejection at the Fair Value Gap above could push price back down.
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.