**Yearly Chart**
The year 2023 candle closed bullish but it stood within the range of the previous year's candle. A look at the yearly chart indicates the directional bias is long after it tested the major demands zone.
**Monthly Chart**
After the major move of 2022, the price stalled in a large range moving between 1.63000 level (round number) and 1.73000. However, the strong momentum suggests a strong move to break the range towards 1.75000 level and then further to 1.8000 level.
**Weekly Chart**
The directional bias as per the weekly chart is bullish. However, given that there is a strong level that needs to be broken, it might indicate that short-term bias will be short after a bounce from 1.73000 key level. The price also bounced higher after testing the demand zone at 1.68000 level on 25 Dec 2023 week and moved higher which again confirmed the move towards breaking the highs.
**Daily Chart**
The last bounce is shown clearly on the daily chart. The move will continue bullish but we have to patiently look for good opportunities to take it long.
The year 2023 candle closed bullish but it stood within the range of the previous year's candle. A look at the yearly chart indicates the directional bias is long after it tested the major demands zone.
**Monthly Chart**
After the major move of 2022, the price stalled in a large range moving between 1.63000 level (round number) and 1.73000. However, the strong momentum suggests a strong move to break the range towards 1.75000 level and then further to 1.8000 level.
**Weekly Chart**
The directional bias as per the weekly chart is bullish. However, given that there is a strong level that needs to be broken, it might indicate that short-term bias will be short after a bounce from 1.73000 key level. The price also bounced higher after testing the demand zone at 1.68000 level on 25 Dec 2023 week and moved higher which again confirmed the move towards breaking the highs.
**Daily Chart**
The last bounce is shown clearly on the daily chart. The move will continue bullish but we have to patiently look for good opportunities to take it long.
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Join our PropSignals Channels on Telegram
t.me/PropsignalAE
t.me/PropsignalAE
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.