First, price was moving inside a sideways channel for a long time.
Now what happened?
✅ The market has clearly broken the sideways channel.
✅ We have a strong bullish impulse move.
✅ And most importantly — a retest of the breakout zone is completed.
This is not just a random move.
We also have Fibonacci confluence here.
The 0.382 retracement level around 1.1888 acted as support.
That area aligns perfectly with the previous structure and breakout zone.
This gives us confirmation of bullish momentum continuation.
Now let’s talk about structure.
Price formed a reversal V pattern, showing strong rejection from lower levels.
After breaking Resistance R1, the market pulled back slightly — and now buyers are stepping in again.
This is a classic:
Breakout → Retest → Bullish Continuation setup.
📈 Buy Projection Plan:
Entry Zone: Around the breakout retest area (near 1.1880–1.1910 region).
Stop Loss: Below the support zone / below the channel break structure.
Target 1: Around 1.2050 (previous resistance).
Extended Target: 1.2200+ if bullish momentum continues strongly
Now what happened?
✅ The market has clearly broken the sideways channel.
✅ We have a strong bullish impulse move.
✅ And most importantly — a retest of the breakout zone is completed.
This is not just a random move.
We also have Fibonacci confluence here.
The 0.382 retracement level around 1.1888 acted as support.
That area aligns perfectly with the previous structure and breakout zone.
This gives us confirmation of bullish momentum continuation.
Now let’s talk about structure.
Price formed a reversal V pattern, showing strong rejection from lower levels.
After breaking Resistance R1, the market pulled back slightly — and now buyers are stepping in again.
This is a classic:
Breakout → Retest → Bullish Continuation setup.
📈 Buy Projection Plan:
Entry Zone: Around the breakout retest area (near 1.1880–1.1910 region).
Stop Loss: Below the support zone / below the channel break structure.
Target 1: Around 1.2050 (previous resistance).
Extended Target: 1.2200+ if bullish momentum continues strongly
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.