FRA40 Trending Higher – Bullish Continuation Toward 8,445PEPPERSTONE:FRA40 is currently trading within an ascending channel, indicating a strong bullish structure. The price has broken above a key resistance zone and has now pulled back for a retest. This area previously acted as resistance and may now serve as support, aligning with a potential bullish continuation.
If buyers confirm support at this level, the price is likely to move upward toward the 8,445 level, which aligns with the upper boundary of the channel. Conversely, a failure to hold support could signal a potential bearish shift.
Traders should monitor for bullish confirmation signals, such as bullish engulfing candles, strong wicks rejecting the support zone, or increased buying volume, before considering long positions.
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