Forex fundamental.

manufacturing company, are trading in a downtrend around 149.00

On the daily chart, a global downtrend is developing, which has recently formed within a wide downward channel. tn early February, the price accelerated its decline and overcame the support line of the range around 156.00, after which it tries to return to the channel

On the four-hour chart, the rate is trying to return to the global channel for the third time, and if it consolidates above the initial correction level of 23.6% Fibonacci around 150.00, this may happen. After that, the path to the range resistance lin

at 169.00 will be open. The readings of technical indicators also confirm the high probability of local growth: indicator Alligator’s EMA fluctuations range is actively narrowing, and the histogram of the AO oscillator is approaching the transition level

After growth and consolidation above the initial correction around 150.00, the main scenario is relevant, assuming the formation of buy positions with the target at 165.00. Stop loss - 143.00. Implementation period: 7 days or more

After the reversal, decrease, and consolidation below the support level at 141.00, an alternative scenario is relevant, which involves the formation of sell positions with the target at 130.00. Stop loss is 148.00, above the local support.