šFDUSD Technical Analysis Today | Low-Risk Entries, Steady Profit Strategyšš²$FDUSD
Market Overview
Current Price: ~0.9989
Trade Plans (Low Risk Setups)
Long Buy Setup
Entry: 0.9980 - 0.9984
Stop Loss: 0.9964
Take Profit 1: 0.9995
Take Profit 2: 1.0000
Risk : Reward = 1:1.8
Trend Nature: The market has a Sideways Nature with a slight Bullish Bias.
Asset Type: Stablecoin, therefore very low volatility, as it trades around its Peg (1.0000).
Trend Analysis
The current price is above the MA(99) which indicates that the current bullish structure is intact. The MA(7) and MA(25) are approximately the same, which indicates that the current market conditions are consolidation. The price change from a recent Higher Low of 0.9965 to a higher price of 0.9980 has started to create an upward trend.
Overall, I have a Neutral to Mildly Bullish Bias.
Indicator Analysis
RSI (6); The RSI number is approximately at 64.0. The RSI is currently above 50 which indicates bullish momentum, but is currently below 70 indicating that the market has not yet become overbought.
The RSI of 64.0 means that the Buyers are currently slightly in control of the overall market at this time.
Key Levels
Support Zones0.9980 - 0.9978
This is an immediate support zone for short-term Buyers
0.9965- This is a Very Strong Base Support Zone which is considered to be the most recent swing low, therefore it holds Significant Value for the current and future markets.
0.9950 This is the zone where price has the potential to break down. If price breaks below this level, this would indicate a strong possibility of having the current trend invalidated.
Resistance Zones
0.9997 - 1.0000 - Major psychological & liquidity Resistance Zone
1.0003 - This is the previous Spike High. It is considered to be a Major Sell Pressure Zone for price.
