FxWirePro-BNBUSD Trade Idea

Key Level to Monitor: $640

BNB/USD pair showed a minor pullback after forming a minor bottom around $660. It hit an intraday high of $698.40 and is currently trading around $697.70.

Overall bias remains bullish as long as support of $640 holds. It trades above the 34 and 55 EMA on the 4-hour chart. If the pair closes below $640, potentially leading to further declines towards $580/$550.

Immediate Resistance is at $702. A successful breakout above this resistance could suggest bullish momentum, with further gains possible towards $725/$775/$812/$848/$1000.

Indicators (4-Hour Chart)

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

Trading Strategy

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