This chart represents a classic Double Top pattern, a bearish reversal signal indicating strong resistance around the 3,380 - 3,390 USD zone (marked with two white circles).
🔍 Key Zones and Levels:
1. Resistance Zone (~3,380 - 3,390 USD):
Price was rejected twice here.
Suggests strong selling pressure and buyer exhaustion.
2. Mid Support/Retest Zone (~3,337.857 USD):
Marked with a horizontal white line.
Could act as a short-term resistance if price retraces.
3. Demand Zone (~3,330 - 3,337 USD):
Highlighted green box: potential reversal/retest zone.
Bullish scenario: price bounces from here and heads back to retest resistance.
4. Current Price (~3,309.980 USD):
Price has broken below the demand zone and is approaching strong horizontal support.
5. Lower Support (~3,265 - 3,270 USD):
Highlighted with blue horizontal lines and purple arrows.
Could be the next bearish target if breakdown is confirmed.
🔄 Two Possible Scenarios:
📉 Bearish Continuation:
Price retests the broken demand zone (now resistance).
Rejects and forms a lower high.
Falls toward the lower support around 3,265–3,270 USD.
📈 Bullish Reversal:
Price reclaims the green demand zone.
Pushes above 3,337.857 USD level.
Heads back to retest the double top area (~3,380
✅ Conclusion:
The bias is currently bearish, supported by:
Double top formation.
Breakdown below key demand zone.
Momentum favoring further downside
However, a bullish reversal is possible if price reclaims the 3,337 USD zone and shows strong bullish structure.
🔍 Key Zones and Levels:
1. Resistance Zone (~3,380 - 3,390 USD):
Price was rejected twice here.
Suggests strong selling pressure and buyer exhaustion.
2. Mid Support/Retest Zone (~3,337.857 USD):
Marked with a horizontal white line.
Could act as a short-term resistance if price retraces.
3. Demand Zone (~3,330 - 3,337 USD):
Highlighted green box: potential reversal/retest zone.
Bullish scenario: price bounces from here and heads back to retest resistance.
4. Current Price (~3,309.980 USD):
Price has broken below the demand zone and is approaching strong horizontal support.
5. Lower Support (~3,265 - 3,270 USD):
Highlighted with blue horizontal lines and purple arrows.
Could be the next bearish target if breakdown is confirmed.
🔄 Two Possible Scenarios:
📉 Bearish Continuation:
Price retests the broken demand zone (now resistance).
Rejects and forms a lower high.
Falls toward the lower support around 3,265–3,270 USD.
📈 Bullish Reversal:
Price reclaims the green demand zone.
Pushes above 3,337.857 USD level.
Heads back to retest the double top area (~3,380
✅ Conclusion:
The bias is currently bearish, supported by:
Double top formation.
Breakdown below key demand zone.
Momentum favoring further downside
However, a bullish reversal is possible if price reclaims the 3,337 USD zone and shows strong bullish structure.
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• Affiliate Program
• Strategic Partnerships
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Market Analyst | Forex Mentor | XAUUSD Specialist
Services Offered:
• VIP Signals
• 1-on-1 Mentorship
• Professional Forex Course
• Affiliate Program
• Strategic Partnerships
Link to Join
t.me/ZareeFxTradingSignals
Services Offered:
• VIP Signals
• 1-on-1 Mentorship
• Professional Forex Course
• Affiliate Program
• Strategic Partnerships
Link to Join
t.me/ZareeFxTradingSignals
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.