5689921059#Currency_Analysis
#توصيات_تداول Current status: bullish with a possible correction soon
Detailed technical analysis:
1. Relative Strength Index (RSI):
Trading at levels 70-72, indicating that the currency is in an overbought zone, and prices may start to decline soon.
2. Stochastic RSI:
Indicates 95+, a very high level reflecting the overbought market.
3. MACD:
Shows a slight separation between the MACD lines and the signal line, reflecting weak upward momentum.
4. Bollinger Bands:
The price is very close to the upper limit of the Bollinger Band, which reinforces the idea of a price correction towards the middle of the channel (at levels 1.16 - 1.20).
5. Trading volumes:
A significant increase in trading volumes shows traders' interest, but momentum may weaken soon.
---
Recommendations for professionals:
If you own the currency:
Keep your current open positions, but make sure to place a stop loss at nearby support levels (1.15 or 1.10) to secure profits.
If you want to buy:
Wait for the price to drop to 1.16 - 1.20 levels before thinking about entering, as these levels represent strong support areas.
If you are thinking about selling:
Sell gradually at the resistance of 1.65 or if clear reversal signals appear on the small time frames.