📊 Technical Overview:
Current Price: $2,944.41
Resistance Levels:
$2,960.08 – Next major target if the bullish trend continues
$2,948.00 - $2,950.00 – Weak high resistance zone (potential breakout area)
Support Levels:
$2,941.36 – Immediate support
$2,936.16 – Stronger support zone
$2,923.19 – Key demand zone for a potential bounce
🔍 Price Action & Trend:
Uptrend in a bullish channel – Price is respecting the ascending channel structure.
Break of Structure (BOS) & Change of Character (CHoCH) detected – This indicates a strong bullish intent, but some retracement might happen before a breakout.
Possible Pullback Scenario:
Price may test the $2,941 - $2,936 support zone before moving higher.
If price holds this level, we could see a push toward $2,960+.
📈 Trading Plan:
Bullish Scenario:
If price holds above $2,941, a long entry targeting $2,960 is ideal.
A breakout above $2,950 could lead to further upside.
Bearish Scenario:
If price fails to hold $2,941, a drop to $2,936 or even $2,923 is possible before another push-up.
📌 Summary:
Bias: Bullish as long as price stays inside the ascending channel.
Potential Entry: Buy from $2,941 - $2,936 support zone.
Target: First TP at $2,950, second TP at $2,960.
Risk: If price breaks below $2,923, bearish momentum could increase.
Current Price: $2,944.41
Resistance Levels:
$2,960.08 – Next major target if the bullish trend continues
$2,948.00 - $2,950.00 – Weak high resistance zone (potential breakout area)
Support Levels:
$2,941.36 – Immediate support
$2,936.16 – Stronger support zone
$2,923.19 – Key demand zone for a potential bounce
🔍 Price Action & Trend:
Uptrend in a bullish channel – Price is respecting the ascending channel structure.
Break of Structure (BOS) & Change of Character (CHoCH) detected – This indicates a strong bullish intent, but some retracement might happen before a breakout.
Possible Pullback Scenario:
Price may test the $2,941 - $2,936 support zone before moving higher.
If price holds this level, we could see a push toward $2,960+.
📈 Trading Plan:
Bullish Scenario:
If price holds above $2,941, a long entry targeting $2,960 is ideal.
A breakout above $2,950 could lead to further upside.
Bearish Scenario:
If price fails to hold $2,941, a drop to $2,936 or even $2,923 is possible before another push-up.
📌 Summary:
Bias: Bullish as long as price stays inside the ascending channel.
Potential Entry: Buy from $2,941 - $2,936 support zone.
Target: First TP at $2,950, second TP at $2,960.
Risk: If price breaks below $2,923, bearish momentum could increase.
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🔗 The Forex Stream USANote
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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.