The market formed double bottom at main support level. The market is oversold on the daily timeframe. Price action might bounce off this level because it is at the daily upward trendline and lower lows are getting shorter which shows losing momentum. I expect the breakout of the channel. My goal is to resistance around at 1.08230
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Thank you for your analysis. It is evident that our position remains bearish, aligning with the ongoing downtrend. Your insights are appreciated.