
The chart reveals intriguing patterns signaling potential shifts in market direction. Close examination of recent trends suggests that this asset is at a pivotal point.
Traders should pay attention as the asset approaches essential support and resistance levels that could influence future price movements.
Recently, there is a bearish engulfing pattern observed after a strong upward movement. This pattern indicates potential reversal from the bullish trend.
The current trend shows a shift from bullish to bearish, as evident from the lower highs and lower lows beginning to form.
The price is near a potential pullback zone around 1.1760. A break below this level could lead to further decline.
The MACD line is below the Signal line, indicating a bearish crossover. This signals potential continuing downward momentum.
The histogram bars are in the negative, suggesting increasing bearish momentum.
No significant divergences between MACD and price action currently observed.
Although volume data is limited, there is no indication of a significant volume spike, which would typically indicate strong market interest.
The declining volume on recent price drops suggests a less convincing bearish sentiment without strong seller conviction.
No unusual volume spikes are observed that could indicate institutional activity.
Immediate support is around 1.1750-1.1760. A break below could lead to further declines toward 1.1700.
Resistance is around the recent high near 1.1850. A push above this level would suggest a resumption of the bullish trend.
If the price breaks below the 1.1750 level on strong volume, consider selling targets around 1.1700.
If the price stabilizes and shows signs of reversal, potential buying opportunities may arise, especially above 1.1850.
Monitor for a confirmed move below current support or a reversal pattern indicating the resumption of an uptrend.
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Secured By SSL. Copyright © Seekapa. All rights reserved. 2024
Company Information: This website (www.seekapa.com.com/) is operated by Bluepine Ltd, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD183. Bluepine Ltd is located at Suite 205, 2nd Floor, Waterside Property Limited, Eden Island, Seychelles
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Bluepine Ltd does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Bluepine Ltd does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Bluepine Ltd is not a financial adviser.