On the Monthly timeframe, we’ve now seen a clear triple wick rejection, signaling potential downside momentum. After multiple failed attempts to break above the $3,400 level, price action has begun to retrace.
Looking at the 1H timeframe, we’ve broken below the upward trendline, and price continues to push lower. This reinforces the bearish sentiment for now.
That said, if we see a break and close above $3,330, I’ll be watching for a potential retest of the previous trendline near the $3,364 level. Conversely, a break below $3,283 could open the door for further downside toward the $3,247 level.
Heading into Friday, with no significant USD news on the calendar, I’m expecting low volatility and potential sideways movement.
Trade Ideas:
• Sell zone: $3,325 – $3,330
• Buy zone: $3,308 – $3,313
As always, risk management is key — only risk 1–2% of your capital per trade.
Good luck and stay disciplined!
Looking at the 1H timeframe, we’ve broken below the upward trendline, and price continues to push lower. This reinforces the bearish sentiment for now.
That said, if we see a break and close above $3,330, I’ll be watching for a potential retest of the previous trendline near the $3,364 level. Conversely, a break below $3,283 could open the door for further downside toward the $3,247 level.
Heading into Friday, with no significant USD news on the calendar, I’m expecting low volatility and potential sideways movement.
Trade Ideas:
• Sell zone: $3,325 – $3,330
• Buy zone: $3,308 – $3,313
As always, risk management is key — only risk 1–2% of your capital per trade.
Good luck and stay disciplined!
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