The currency shows a strong positive momentum (up 14.02%) with a series of rising peaks and troughs. The price is currently testing a strong resistance area at 328.0. A breakout and stability above this level strengthens the continuity of the upward trend, while the chart shows signs of temporary overbought conditions that could lead to a slight correction to test support.
Potential price targets
• First target: 335.0
• Second target: 352.0
• Strategic target: 385.0
Expected time frame
• First target: within 24 - 48 hours.
• Second target: within 3 - 5 days.
• Strategic target: from one week to two weeks.
Controversial scenarios
• Positive scenario: breaking the 330.0 level and holding above it opens the door for a qualitative leap towards 400.0.
• Cautious scenario: the current volatility requires monitoring the key support areas at 318.0 and 305.0.
Buying and selling areas
• Buy: ideal entry between 318.0 and 322.0 (in case of correction) or upon breaking 330.0 with confirmation.
• Sell: partial profit-taking at 350.0 and liquidate positions at 380.0.
Golden advice for traders
"Do not chase long green candles; wait for a retest of the broken support areas and ensure the trading volume, as safe entry is more important than quick profit."
What will happen in the coming days
We expect the optimism around the currency to continue with the possibility of a temporary "profit-taking" when touching the 330 levels, followed by a surge towards new record levels if the market maintains stability above the 315 support.
