Price is currently trading below a key support zone, which previously acted as strong demand.
This level has now turned into resistance (S/R flip).
Key Levels
Resistance: 1.55 – 1.65
Major Resistance: 2.00
Support: 1.20 – 1.25
Downside Target: 0.85 – 0.90
Scenario 1 – Bearish Continuation
As long as price remains below 1.55, the bias stays bearish.
Failure to reclaim this level increases the probability of a move toward 0.85, which aligns with previous demand on the higher timeframe.
Scenario 2 – Bullish Recovery
A clean weekly close above 1.55–1.65 would invalidate the bearish scenario.
In that case, price could rotate back toward 2.00, where heavy resistance is expected.
Conclusion
This is a high-timeframe decision zone.
Patience is key — wait for confirmation instead of anticipating the move.
What do you think: breakdown continuation or reclaim of resistance?
MrC
This level has now turned into resistance (S/R flip).
Key Levels
Resistance: 1.55 – 1.65
Major Resistance: 2.00
Support: 1.20 – 1.25
Downside Target: 0.85 – 0.90
Scenario 1 – Bearish Continuation
As long as price remains below 1.55, the bias stays bearish.
Failure to reclaim this level increases the probability of a move toward 0.85, which aligns with previous demand on the higher timeframe.
Scenario 2 – Bullish Recovery
A clean weekly close above 1.55–1.65 would invalidate the bearish scenario.
In that case, price could rotate back toward 2.00, where heavy resistance is expected.
Conclusion
This is a high-timeframe decision zone.
Patience is key — wait for confirmation instead of anticipating the move.
What do you think: breakdown continuation or reclaim of resistance?
MrC
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.