The price is currently around 1.09136, showing a minor bullish movement.
The chart indicates a potential downtrend, with a projected drop toward the 1.08500 support level.
A red arrow suggests the current price level might act as a resistance, prompting a decline.
If price action follows the suggested path, it may experience fluctuations before hitting the target support zone.
Forecast:
Bearish bias in the short term, expecting a decline toward 1.08500.
If support holds at 1.08500, a potential rebound could follow.
A break below 1.08500 could lead to further downside pressure.
The chart indicates a potential downtrend, with a projected drop toward the 1.08500 support level.
A red arrow suggests the current price level might act as a resistance, prompting a decline.
If price action follows the suggested path, it may experience fluctuations before hitting the target support zone.
Forecast:
Bearish bias in the short term, expecting a decline toward 1.08500.
If support holds at 1.08500, a potential rebound could follow.
A break below 1.08500 could lead to further downside pressure.
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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.