CANDLE MASTER UPDATE!
chart shows a bullish setup based on several technical indicators and price action:
### *Key Analysis Points:*
1. *Support Zone (Yellow Box):*
* Price has tested and bounced off a well-defined support zone around 1.32690.
* This level has acted as a strong demand zone in the past, and recent price action confirms buying interest.
2. *Resistance Zone:*
* The resistance level is marked just above the current price (around 1.33500), representing the neckline of a potential breakout.
3. *EMA Support:*
* The 50 EMA (red line at 1.33148) is currently just below the price, acting as dynamic support.
* The 200 EMA (blue line at 1.31251) is much lower, confirming an overall uptrend structure.
4. *Bullish Projection:*
* The projection suggests a breakout above resistance, with a target near 1.35000 (TARGET POINT).
* This is supported by the previous bullish move (highlighted by the black trend lines and upward impulses).
5. *Risk-to-Reward Consideration:*
* A breakout entry around 1.33500 aiming for the target of 1.35000 provides a potential reward of 150+ pips.
* Stop loss could reasonably be placed just below the support at 1.32690 for a favorable risk-reward ratio.
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### *Conclusion:*
The chart suggests a *bullish breakout scenario* with an expected continuation towards 1.35000. If price breaks the resistance zone and holds above it, the setup favors long entries
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