If the 0.700 level fails to hold as support (considering its role in closing the gap and aligning with the trendline), it may signal a continuation of the downtrend.
A decisive breakdown below this area could indicate weakening bullish momentum, increasing the probability of further downside. Key confirmation factors include volume expansion on the breakdown and failure to reclaim the level in subsequent attempts.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Trading involves risk, always conduct your own research and risk management.
A decisive breakdown below this area could indicate weakening bullish momentum, increasing the probability of further downside. Key confirmation factors include volume expansion on the breakdown and failure to reclaim the level in subsequent attempts.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Trading involves risk, always conduct your own research and risk management.
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