Note: Technical analysis is a tool to assist in making investment decisions, not a guarantee of profit. It is always advisable to conduct thorough research before making any investment decision.
Overview
* General trend: The pair appears to be in an uptrend in the short and medium term, supported by the exponential moving average (EMA) lines that are swaying above each other.
* Resistance: Level 2.765 may form a strong resistance for the pair, as it failed to penetrate it several times.
* Support: Level 2.735 may be a strong support for the pair, as it has bounced off it several times.
* Technical indicators:
* RSI: The indicator is above the 50 level, indicating buying strength.
* MACD: MACD lines are crossing upwards, supporting the uptrend.
* Volume: There is some momentum in the volume, which supports the price action.
Possible targets
* Short-term target: If the pair can break the resistance level of 2.765, the next target may be at the level of 2.780 or slightly higher.
* Medium term target: If the uptrend continues, the next target could be at 2,800.
Potential risks
* Price pullback: If the pair fails to break the resistance level of 2.765, it may return to the support level of 2.735 or lower.
* Increased volatility: Any sudden news or event in the market may increase volatility in the pair, making trading more difficult.
Recommendations
* Short-term traders: They can consider buying the pair when it breaks the resistance level of 2.765, with a stop loss order placed below the support level of 2.735.
* Medium-term traders: They can hold a long position as long as the uptrend remains in effect.
Note: This analysis is based on data available as of today. Market conditions can change quickly, so it is always important to monitor the market.