Key Observations:
Current Price: 1.08529
Support Level: Around 1.083
Resistance Level: Near 1.090
Expected Movement:
The price is currently bouncing off the support level.
If support holds, we could see a bullish move toward resistance at 1.090.
The analysis suggests higher lows, indicating potential upward momentum.
Forecast:
Bullish Scenario:
If the price remains above 1.083, it could gradually push higher toward 1.090.
A break above 1.090 may confirm a further bullish run.
Bearish Scenario:
If the support at 1.083 fails, we may see a drop toward lower support zones.
Watch for breakout confirmation before entering long positions.
Current Price: 1.08529
Support Level: Around 1.083
Resistance Level: Near 1.090
Expected Movement:
The price is currently bouncing off the support level.
If support holds, we could see a bullish move toward resistance at 1.090.
The analysis suggests higher lows, indicating potential upward momentum.
Forecast:
Bullish Scenario:
If the price remains above 1.083, it could gradually push higher toward 1.090.
A break above 1.090 may confirm a further bullish run.
Bearish Scenario:
If the support at 1.083 fails, we may see a drop toward lower support zones.
Watch for breakout confirmation before entering long positions.
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.