Current price: 150.20
Key point: 149.20
Our preferred direction: Buy positions above 149.20 levels with 151.00 as a first target and then 152.00 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 149.20 level, targeting the 148.00 levels.
Technical commentary
On the four-hour frame, the pair continued its downward trend from last month’s peak until it reached the support levels of 149.20-149.50, and it is expected to rise again to the levels of 150.85 and then the levels of 151.90.
However, in the event of a break and closing below the mentioned support levels, the price will head directly to the 148.00 levels.
