$IO /USD Eyes Recovery: Is This the Start of a New Bullish Wave?
$IO /USD is currently trading at $3.565 on the 15-minute chart, showcasing a strong rebound from a recent low of $3.203. The price is now consolidating below a critical resistance level at $3.60, with strong support identified at $3.53. Traders looking to enter could consider a long position at the current price of $3.565, targeting TP1 at $3.58, TP2 at $3.62, and TP3 at $3.65. To manage risk, a stop-loss (SL) is advised at $3.53.
The RSI indicates healthy bullish momentum, and the MACD shows increasing buying pressure, signaling the potential for further gains. Watch closely for a breakout above the $3.60 resistance level, which could trigger a more aggressive upward movement. This setup offers a calculated opportunity for quick scalping or short-term trading gains.