$FORM $FORM 8h | Market Structure
- The structure is attempting a bullish reversal after a liquidity sweep below 0.2026, but the weak ADX suggests breakout moves may lack power unless supported by volume and price action confirmation.
- I expect the price to retest the 0.2213-0.2153 support area. If buyers defend this zone and a bullish signal appears, I anticipate a rally first toward 0.2358, then 0.2542, and potentially 0.2617. Watch for confirmations like a bullish engulfing or clear reversal candle before entering.
- If price fails at 0.2213 and closes below 0.2153 with momentum, expect a drop toward 0.2026. My bias would turn bearish below 0.2153, targeting 0.2026 and possibly lower.
- For a long setup, enter on bullish confirmation in the 0.2213-0.2153 region, take profit at 0.2358 and 0.2542, with stop-loss below the swing low. For a short bias, only consider entries if there's a clear rejection above the most recent swing high as it forms.
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