In the , we can see how 3.70 stopped the upward movement. We got a new swing high, and we will use it for confirmation of a possible upward movement. If the price breaks this high, we will get a signal. The target will be at 4.00 round number, and buyers will try to break the market high as well.
If the resistance can hold buyers, we should be ready to see a reversal with the further downward movement. The goals for sellers will be SMA100, SMA200, and 3.00 support. Reversal signals from these support zones will be good for buying in the direction of the main uptrend.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.