The prevailing market sentiment indicates a Bearish bias for this instrument today. Traders who expect downward movement may consider Short positions right after the price dives below the '51935.8'. This breakthrough could lead to the attainment of the first target level 50851.2, coupled with the second target level 49664.1. Further pull might even lead the price towards 48579.5 before the day gets over.
Oppositely, breaking upper the price '51935.8' could indicate a potential reversal, getting traders to consider Long positions. In this format, not only may the price descend towards the first resistance level 53122.9 , but it may also see 54207.5. A more substantial increase towards 55394.6 is also on the way to get the session over.
The market sentiment for this currency pair suggests a Bearish today. Traders may consider initiating Short positions sooner the price falls below the '2956.3'. This confirmation could lead to the achievement of the first target 2906.6 before following the second target price 2824.4. There is a possibility for the price to decline further and reach 2774.7 before the end of today's market session.
Nonetheless, if the price breaks above the '2956.3', it may indicate a potential shift in momentum, leading to a Long position. Traders should exercise caution as the price could rise towards the first resistance level 3038.5 and potentially test 3088.2. A stronger increase towards 3170.3 is also possible before the end of today's trading session.
Caution: Navigate volatile financial markets during Economic News with care. Stay informed, manage risk, and make wise trading decisions. Daily Crypto Technical Analysis in this page is all generated by Frustrader AI System and does not intend to provide any Trading Signals. However, our trusted tools and expert insights can help you navigate the choppy waters of market fluctuations. Prepare for uncertainty and seize opportunities with confidence.