The 9 EMA is slightly below the 20 EMA, reflecting mild bearish pressure in the short term. However, the divergence is minimal, indicating that the price could swing in either direction depending on market sentiment. A crossover above the 20 EMA could signal bullish momentum, providing an opportunity for long trades targeting the 2.4072 resistance level.
The MACD remains in bearish territory with a negative histogram, suggesting that selling momentum persists but is gradually waning. Meanwhile, the RSI hovers near the neutral 50 level, oscillating between oversold and overbought zones. A breakout in either direction will likely dictate the next significant price move.
For long positions, a sustained breakout above 2.4072, confirmed by a MACD crossover and RSI moving into bullish territory, could pave the way for targets near 2.4142 or 2.4189. Conversely, if the price falls below 2.3886, short traders may aim for 2.3841 and possibly 2.3797, with stop losses placed around 2.4072 to manage risk.
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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.