The price is moving within a descending channel on the hourly timeframe. It has reached the minimum and is heading towards a rebound. Testing these boundaries again is expected.
The Relative Strength Index (RSI) indicates a downward trend, and this trend is likely to continue due to the overbought condition.
A key support area (in green) was found at 0.0628, and the price has bounced off this area several times, making it a strong support level.
The price is heading towards the 100-period moving average, which we are approaching. This trend supports an upward movement.
Entry price: 0.0638
Target one: 0.0651
Target two: 0.0664
Target three: 0.0677
Stop loss: at the resistance area (in green)
Remember this simple rule: money management.
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