The price is currently consolidating between the 3,035 and 2,998 levels. Overall, it appears to be forming a bullish trend, with a potential breakout above the 3,035 resistance level. If this resistance is broken, the price is likely to rise further toward the 3,053 level.
However, as long as the price continues to trade below 3,035, the consolidation movement is expected to persist.
Bullish target: 3035, 3053, 3080
Bearish target: 3014, 2998, 2982
However, as long as the price continues to trade below 3,035, the consolidation movement is expected to persist.
Bullish target: 3035, 3053, 3080
Bearish target: 3014, 2998, 2982
Trade active
The price is anticipated to experience temporary downward pressure due to the release of GDP data and initial jobless claims. It may decline toward the 3,035 level or extend the bearish movement below this support, targeting the subsequent levels of 3,014 and 2,998. However, the overall market direction remains bullish, and the price is expected to eventually resume its upward momentum, aiming for the recent high at 3,053.Trade closed: target reached
According to my analysis, the price reversed as a corrective move influenced by the news, and as anticipated, it subsequently rose and surpass the previous high level.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.
Profit isn’t about luck, it’s about strategy. Get free signals and trade smarter: Telegram Channel [t.me/ArinaMarketAnalysis].
The market is waiting—you can make money, and you should.
The market is waiting—you can make money, and you should.
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.