The current support range is where the correction process is anticipated to end. After that, the trend will change, and we’ll see the start of an upward trend. Otherwise, the downward trend will continue after crossing the support range.
The price line is currently showing 1.28620, and this area is just above a demand zone marked on the chart as a rectangle. The two green lines on the chart show that the price line’s recent fluctuation has created a wedge pattern. The RSI is presently showing a bullish divergence signal, and a bullish trend can soon be anticipated. The chart offers an entry when the price enters the purple region once more, which the traders can choose to do. On 1.29907, the target for the ascending wave could be taken into consideration.
• There is resistance at 1.28999, followed by resistance at 1.29601 and 1.29907.
• There is support at 1.28500. Below, there is 1.28300 and 1.28182.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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