The price is forming an ascending triangle pattern, with a strong resistance level at the top and a rising trendline acting as support. A potential breakdown from this structure could lead to a bearish move.
Key Levels:
Resistance: 1.0580
Support: 1.0440
Expected Scenario:
A rejection from resistance followed by a break of the trendline could trigger a drop towards 1.0400 and lower.
Watch for confirmation before entering short positions.
Trading Plan:
Wait for a clear breakout below the trendline.
Look for bearish retest before shorting.
Stop-loss: Above recent highs.
Target: 1.0400 & below.
Bearish Bias unless price breaks above resistance.