Resistance Level: Marked near 0.65848, acting as a potential reversal zone.
Current Price: Around 0.65490 at the time of the chart.
Indicators:
EMA 50 (red) and EMA 200 (blue) are shown — price is currently above both EMAs, indicating recent bullish momentum.
RSI: Around 59.78, suggesting it’s approaching overbought territory but not extremely so.
Projected Move:
The drawn path suggests the pair may retest the resistance area (0.65635–0.65848), fail to break above, and then reverse sharply downward.
First Target: Around 0.64723, which is just above the EMA 200 level — a common support area.
Second Target: Around 0.63672, which implies a deeper bearish extension if the first support breaks.
Overall Idea:
The analysis expects a short-term bullish push to resistance, followed by a reversal and a significant drop.
It combines resistance rejection, EMA dynamic support zones, and bearish RSI divergence potential.
Bias: Bearish below the resistance area. Confirmation would come with bearish candlestick patterns or momentum breakdowns below the EMAs
Current Price: Around 0.65490 at the time of the chart.
Indicators:
EMA 50 (red) and EMA 200 (blue) are shown — price is currently above both EMAs, indicating recent bullish momentum.
RSI: Around 59.78, suggesting it’s approaching overbought territory but not extremely so.
Projected Move:
The drawn path suggests the pair may retest the resistance area (0.65635–0.65848), fail to break above, and then reverse sharply downward.
First Target: Around 0.64723, which is just above the EMA 200 level — a common support area.
Second Target: Around 0.63672, which implies a deeper bearish extension if the first support breaks.
Overall Idea:
The analysis expects a short-term bullish push to resistance, followed by a reversal and a significant drop.
It combines resistance rejection, EMA dynamic support zones, and bearish RSI divergence potential.
Bias: Bearish below the resistance area. Confirmation would come with bearish candlestick patterns or momentum breakdowns below the EMAs
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