The 4H trend is fundamentally Bearish, but a short-term bullish reversal is developing. Price has been trading consistently below the EMA 99, establishing a clear downtrend. However, the recent strong bounce from the 0.1564 support level indicates a significant shift in momentum.
The trigger for this long setup is confirmed by the 4H momentum indicators, reflecting bullish pressure on the 1H/15m timeframes. The 4H RSI has powerfully crossed above the 50 line, signaling that buyers have taken control from a low base. This move is supported by the price reclaiming both the EMA 7 and EMA 25, which are now acting as dynamic support. This structure suggests the initial phase of a relief rally is underway.
Entering now is a high-probability trade because we are catching a confirmed momentum shift early. The bearish momentum appears exhausted, and the break above the short-term EMAs with a corresponding RSI cross over 50 provides a clear signal that the path of least resistance is upwards, targeting the overhead EMA 99 as the first major obstacle.
Actionable Setup Now (LONG)
Entry: market at 0.1779
TP1: 0.1930
TP2: 0.2050
TP3: 0.2200
SL: 0.1695
