The price made a breakout of the bullish trendline and dropped below the resistance level at 0.57585, which may indicate that the bearish trend may continue.
I think there may be a good bearish opportunity at the resistance level, which nicely aligns with the broken bearish trendline. The price may drop to the first support level at 0.56890 and eventually to the second support level at 0.55960.
NOTE: Do not apply trades blindly. Wait for confirmation and always analyze lower timeframes.
Let me know in the comment section below if you have any questions, ideas, or thoughts...
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I think there may be a good bearish opportunity at the resistance level, which nicely aligns with the broken bearish trendline. The price may drop to the first support level at 0.56890 and eventually to the second support level at 0.55960.
NOTE: Do not apply trades blindly. Wait for confirmation and always analyze lower timeframes.
Let me know in the comment section below if you have any questions, ideas, or thoughts...
Don't forget to like and subscribe!
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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.