Trading idea:
Short once support 1.35406 is broken!
Support and resistance:
🔴 Resistance Levels:
1.35768 — the nearest key resistance; a recent swing high before the current decline.
1.35848 – 1.35896 — resistance zone where previous pullbacks and consolidations occurred; could act as a ceiling if retested.
1.36100 — the upper boundary of the range, a potential target if the price breaks out higher.
🟡 Support Levels:
1.35406 — current price level near local support; the price is attempting to build a base here.
1.35118 — an important support level that previously triggered bullish reversals.
1.35010 — an additional support area near recent lows.
1.34917 — strong support, aligned with a previous bottom that marked the beginning of an upward impulse.
🔍 Additional Notes:
The price is consolidating near the lower edge of the short-term range, under pressure from the descending trendline.
RSI is approaching neutral territory — a potential for a reversal exists, but no clear signal yet.
Volume remains moderate, suggesting limited activity from major players — increasing the probability of a sideways move in the near term.
Short once support 1.35406 is broken!
Support and resistance:
🔴 Resistance Levels:
1.35768 — the nearest key resistance; a recent swing high before the current decline.
1.35848 – 1.35896 — resistance zone where previous pullbacks and consolidations occurred; could act as a ceiling if retested.
1.36100 — the upper boundary of the range, a potential target if the price breaks out higher.
🟡 Support Levels:
1.35406 — current price level near local support; the price is attempting to build a base here.
1.35118 — an important support level that previously triggered bullish reversals.
1.35010 — an additional support area near recent lows.
1.34917 — strong support, aligned with a previous bottom that marked the beginning of an upward impulse.
🔍 Additional Notes:
The price is consolidating near the lower edge of the short-term range, under pressure from the descending trendline.
RSI is approaching neutral territory — a potential for a reversal exists, but no clear signal yet.
Volume remains moderate, suggesting limited activity from major players — increasing the probability of a sideways move in the near term.
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.