Market Structure: Price recently formed a lower high and broke below an ascending trendline, signaling potential bearish momentum.
Key Resistance Levels:
2.29400 – Major structure zone, likely to act as resistance.
2.32995 – Invalidation Level – if price breaks and holds above this level, the bearish bias is no longer valid.
Trade Idea:
Watching for a pullback toward 2.29400 followed by bearish confirmation to short the pair.
Targeting downside movement toward the 2.18000–2.16000 area.
Bias: Bearish
Confirmation Needed: Rejection at resistance and bearish candlestick pattern.
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Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research before making any trading decisions.
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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.