Current Price Structure:
Price is forming a potential Head & Shoulders / distribution near resistance (blue + red zone).
There is a clear supply zone overhead around 1.14255–1.14496.
Key demand zone (yellow box) 1.12274–1.11800.
3. Potential Trade Ideas (2 setups):
First short from the current resistance (blue box), aiming towards yellow demand zone.
Second opportunity: After a potential bounce → re-test of lower highs (blue box again) → another short towards demand zone (confluence short twice).
4. Key Levels:
Resistance: 1.14255 – 1.14496
Support: 1.12274 – 1.11800
Current price: 1.13115
5. Bias:
Short-term bearish towards 1.1227 zone.
Wait for confirmation with structure breaks and lower highs.
Price is forming a potential Head & Shoulders / distribution near resistance (blue + red zone).
There is a clear supply zone overhead around 1.14255–1.14496.
Key demand zone (yellow box) 1.12274–1.11800.
3. Potential Trade Ideas (2 setups):
First short from the current resistance (blue box), aiming towards yellow demand zone.
Second opportunity: After a potential bounce → re-test of lower highs (blue box again) → another short towards demand zone (confluence short twice).
4. Key Levels:
Resistance: 1.14255 – 1.14496
Support: 1.12274 – 1.11800
Current price: 1.13115
5. Bias:
Short-term bearish towards 1.1227 zone.
Wait for confirmation with structure breaks and lower highs.
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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.
Related publications
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.