09/01/2025
/USD 1-hour chart, here’s a breakdown of the analysis and additional insights:
Key Levels and Scenarios Highlighted:
Sell Scenario:
Level to Watch: 1.2300.
If the price closes below 1.2300 on the daily timeframe, it indicates the continuation of a bearish trend.
Look for pullbacks to enter sell positions.
Buy Scenario:
If the daily timeframe fails to close below 1.2300, buying opportunities may arise, I will look out for a Change of Character (ChoCH) or corrective patterns such as a Head and Shoulders.
Target levels appear to include 1.2395 and potentially higher towards 1.2471 and higher, if bullish momentum strengthens.
Overall Bias:
The chart suggests a cautious approach, waiting for clear confirmations either for:
A breakout below 1.2300 for sell trades.
A reversal signal with bullish patterns for buy trades.
Key Observations:
Trend:
The chart shows a downtrend, with lower highs and lower lows. However, the highlighted 1.2300 zone acts as a critical support level.
Change of Character (ChoCH):
A potential reversal signal where the market shifts from bearish to bullish. This is marked on the chart near the 1.236 level.
Indicators:
Moving averages seem to point down, reinforcing the bearish momentum.
