Price has rejected the 154.000–154.236 resistance zone, shown by bearish candles forming at the top of the structure. The resistance aligns with a previous supply zone and forms a strong ceiling for sellers. Bearish Structure Shift:
A Break of Structure (BOS) confirms momentum to the downside. A small accumulation phase followed by bearish momentum indicates sellers are in control. Support Target:
The TP is placed at the next significant support level (153.324), a key area where price previously reacted.
Confirmation Patterns:
Bearish Candlestick Formations and rejection wicks suggest further downside potential. Price is trading below the 50 EMA, reinforcing the bearish trend bias.
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