Support zone: ~1.1420 (bottom blue line)
Current entry area: ~1.1450
Target/Resistance: ~1.1597 (top blue line)
The blue risk/reward box suggests:
Potential reward ≈ 145–150 pips
Risk ≈ 25–30 pips
Risk-to-reward roughly 5:1
Market Structure Analysis
Strong bearish impulse
Around June 18, price experienced a sharp selloff from ~1.1590 to ~1.1490.
This indicates sellers were in control.
Formation of support
Price found support near 1.1420 (green arrow area).
Multiple reactions from this level suggest buyers are defending it.
Range/Accumulation
Since the drop, price has been consolidating between:
Support: 1.1420
Resistance: 1.1480–1.1500
Consolidation after a strong move often precedes another directional move.
Bullish thesis
Entry is near the lower end of the range.
Stop is below established support.
Target aims for the previous major resistance around 1.1597.
What needs confirmation
Before expecting a move to 1.1597, I'd want to see:
✅ Break above 1.1480–1.1500 resistance
✅ Higher highs and higher lows on the 30m chart
✅ Increased bullish momentum after the breakout
Current entry area: ~1.1450
Target/Resistance: ~1.1597 (top blue line)
The blue risk/reward box suggests:
Potential reward ≈ 145–150 pips
Risk ≈ 25–30 pips
Risk-to-reward roughly 5:1
Market Structure Analysis
Strong bearish impulse
Around June 18, price experienced a sharp selloff from ~1.1590 to ~1.1490.
This indicates sellers were in control.
Formation of support
Price found support near 1.1420 (green arrow area).
Multiple reactions from this level suggest buyers are defending it.
Range/Accumulation
Since the drop, price has been consolidating between:
Support: 1.1420
Resistance: 1.1480–1.1500
Consolidation after a strong move often precedes another directional move.
Bullish thesis
Entry is near the lower end of the range.
Stop is below established support.
Target aims for the previous major resistance around 1.1597.
What needs confirmation
Before expecting a move to 1.1597, I'd want to see:
✅ Break above 1.1480–1.1500 resistance
✅ Higher highs and higher lows on the 30m chart
✅ Increased bullish momentum after the breakout
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.
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.