📈 Market Structure Analysis The chart shows a strong bullish movement — price moved up rapidly 🚀.
After reaching the top, the market entered a consolidation phase, forming small candles 🕯️, which means the market is now undecided — a fight between buyers and sellers ⚔️. The current price around 58.88 has formed a support zone, and price has bounced from this level before 🔁. 🧠 Trading Psychology After a strong bullish move, the market usually follows this pattern:
➡️ A small pullback 🔽 ➡️ Then continuation to the upside 🔼 The small candles and lower wicks show that sellers are trying to push the price down, but buyers are holding the level 💪. 🎯 Overall Bias 📌 Trend: Bullish 🐂 📌 Structure: Higher highs & higher lows 📊 📌 Zone: Price is holding support 🧱
👉 This means the market still has a higher probability of moving upward 📈✨
Why the market might move downward: * Bearish Trend: The chart clearly shows that the price is continuously dropping. It is forming consistent Lower Highs and Lower Lows, which is a sign of a strong downtrend.
* Rejection from Resistance: Although the price attempted to move upward, it faced resistance at a specific level and started falling by forming Bearish Candles (Red Candles).
* Candlestick Patterns: Observing the last few candles, the red candles are much larger and more powerful compared to the green ones, indicating the dominance of Sellers.
* Support Breakout: The price is showing a tendency to break through its previous minor support levels. If the current candle closes below the previous low, the probability of a further decline increases.
A Short Note for Trading: "Based on the current market structure, the USD/DZD pair is in strong bearish momentum. Since the price has faced rejection from a major resistance zone and is consistently making lower lows, taking a 'Down' trade could be a logical decision here. However, keep in mind that risks are higher in the OTC market, so following proper money management is essential." > Warning: Trading is highly risky. Especially in the OTC (Over-the-Counter) market where algorithms are at play, it is always better to practice with small amounts.