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FxWirePro- BNBUSD Trade Idea

Key Level to Monitor: $600

BNB/USD pair showed a minor pullback after forming a minor bottom around $618.  It hit a fresh all-time high $793 and is currently trading around $698.

Overall bias remains bullish as long as support $600 holds. It trades above the 34 and 55 EMA on the 4-hour chart. If the pair closes below $600, potentially leading to further declines towards $580/$550.

Immediate Resistance is at $725. A successful breakout above this resistance could suggest bullish momentum, with further gains possible towards $775/$812/$848/$1000.

Indicators (4-Hour Chart)

  • Directional Movement Index: Neutral
  • CCI (50): Bullish

Trading Strategy

Consider buying on dips around $650, with a stop-loss set at $600 and a target price of $1000.

 

 

 

 

 

 

 

 

 

 

 

 

 

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