FxWirePro-BNBUSD Trade Idea

Key Level to Monitor: $640

BNB/USD pair trading in a narrow range between $793 and $618 in the past week. It hit an intraday low of $696 and is currently trading around $704.

Overall bias remains bullish as long as support $640 holds. It trades above the 34 and 55 EMA on the 4-hour chart. Any close below $640 will drag the pair to $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.