UR/USD has maintained a clear bearish structure, forming consecutive Lower Highs (LH) and Lower Lows (LL). After bouncing from the recent LL, price is now approaching the previous LH area.
The Fibonacci retracement shows that price is currently reacting around the 50% zone, which has acted as a strong rejection level multiple times in the past.
On the 1H timeframe, price has also printed another lower low inside the structure, confirming bearish momentum.
🔸 Scenario 1: Price may push slightly above the previous rejection area before resuming the move back down toward the LL zone.
🔸 Scenario 2: Market could drop directly from the current level, continuing the overall bearish trend.
The strong sell area remains above the previous Lower High, and traders can plan their entries based on their individual risk management strategies.
The Fibonacci retracement shows that price is currently reacting around the 50% zone, which has acted as a strong rejection level multiple times in the past.
On the 1H timeframe, price has also printed another lower low inside the structure, confirming bearish momentum.
🔸 Scenario 1: Price may push slightly above the previous rejection area before resuming the move back down toward the LL zone.
🔸 Scenario 2: Market could drop directly from the current level, continuing the overall bearish trend.
The strong sell area remains above the previous Lower High, and traders can plan their entries based on their individual risk management strategies.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.