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FxWirePro- BNBUSD Daily Outlook

Key Level to Monitor: $545

The BNB/USD pair surged more than $60 following the victory of Trump as 47 th president of US. It hits a high of $611.40 yesterday and is currently trading around $598.60. A closing price below $545 confirms further bearishness.

Intraday bias remains bullish ,  prices staying above the 34 and 55 EMA on the 4-hour chart. If the pair closes below $585, potentially leading to further declines towards $559,$545, $528, $500, and possibly down to $470.

Immediate Resistance is at $615. A successful breakout above this resistance could suggest bullish momentum, with further gains possible towards $647 or even $700, should it surpass $725.

Indicators (4-Hour Chart)

  1. Directional Movement Index: Bullish
  2. CCI (50): Bullish

Trading Strategy

Consider buying on dips around $585, with a stop-loss set at $559 and a target price of $647.

 

 

 

 

 

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