EURNOK has developed a a support (around 11.65) and resistance (near 11.85) level over several months.
The current weekly candle is trading above the upper boundary of the consolidation range, signaling a potential breakout from the multi-month structure. Breakouts from extended ranges carry increased statistical significance, as they frequently initiate new trend legs. The pattern of higher weekly lows remains intact, underscoring improving underlying demand. Additionally, the 50- and 100-week moving averages are stabilizing and have started to flatten to upward-sloping, providing structural support.
As long as the pair holds above the breakout zone, upside momentum is favored.
Possible setup:
Trigger (Entry):
Long above 11.86 on a confirmed weekly close or
Long on a pullback into 11.80–11.85 if the zone holds as new support.
Invalidation / Stop-Loss:
Below 11.70 (break of reclaimed support and the higher-lows structure).
Conservative traders may choose a wider structural stop below 11.65 (range floor).
Upside Targets:
Target 1: 11.95 (initial resistance cluster and measured move extension)
Target 2: 12.10 (upper volatility band / prior swing zone)
Target 3: 12.25–12.30 (major resistance from previous highs)
The current weekly candle is trading above the upper boundary of the consolidation range, signaling a potential breakout from the multi-month structure. Breakouts from extended ranges carry increased statistical significance, as they frequently initiate new trend legs. The pattern of higher weekly lows remains intact, underscoring improving underlying demand. Additionally, the 50- and 100-week moving averages are stabilizing and have started to flatten to upward-sloping, providing structural support.
As long as the pair holds above the breakout zone, upside momentum is favored.
Possible setup:
Trigger (Entry):
Long above 11.86 on a confirmed weekly close or
Long on a pullback into 11.80–11.85 if the zone holds as new support.
Invalidation / Stop-Loss:
Below 11.70 (break of reclaimed support and the higher-lows structure).
Conservative traders may choose a wider structural stop below 11.65 (range floor).
Upside Targets:
Target 1: 11.95 (initial resistance cluster and measured move extension)
Target 2: 12.10 (upper volatility band / prior swing zone)
Target 3: 12.25–12.30 (major resistance from previous highs)
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.