The currency is currently showing a phase of sideways consolidation after a sharp decline that began from levels of 1.250. The price is currently fluctuating around the area of 1.189 with a slight formation of a "double bottom" (Double Bottom) at the level of 1.175, indicating an attempt to stabilize the price and start a corrective upward rebound.
Potential price targets
• First target: 1.215
• Second target: 1.245
• Strategic target: 1.300
Expected time frame
• First target: within 24 to 48 hours (quick speculation).
• Second target: within 3 to 7 days (medium term).
• Strategic target: two weeks to a month (linked to general market movement).
Controversial scenarios
• Positive scenario: breaching the 1.220 level and staying above it opens the door for a qualitative leap towards 1.300.
• Cautious scenario: the current fluctuation requires monitoring key support areas at 1.175 and 1.145.
Buying and selling areas
• Buy: the current area between 1.178 and 1.189 is considered good for gradual entry.
• Sell: partial profit taking at 1.215 and total sell at 1.245.
Golden advice for traders
"Do not chase the impulsive green candles; buy during the calm and current accumulation, and always set your stop loss below 1.170 to secure your capital from any sudden fluctuations."
What will happen in the coming days?
The currency is expected to continue fluctuating narrowly to test the strength of support at 1.180. If it manages to maintain this level, we will witness a strong breakout to compensate for the previous decline and breach the 1.220 barrier, which represents the current psychological resistance.
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