Price Alert Nearing Key Buy Zone, Upward Surge To 1 Potentially?

We're approaching a pivotal zone on the charts. The price is trending downward, nearing the 0.95 mark. This level marks the beginning of a Weekly BUY/DEMAND zone established in September of last year when prices plummeted to an all-time low of 0.94.

The Daily chart, linked below, shows the price steadily descending towards this key level.


he most likely path now is to look for buying opportunities as price goes down under the 0.95 and towards the all time low @ 0.94.

Ideally, I'd like to see the price decline below 0.95 and then enter an accumulation phase on shorter timeframes. In essence, we want to see sideways price movement during the intraday or daily period, as shown in the chart above.

Should this specific price behavior emerge, it indicates that the most likely direction next is up. In that scenario, I'll initiate a trade based on signals from the TRFX indicator in the 8-hour, 12-hour, or daily timeframe.

A primary target for this position would be around the monthly low from May at 0.968. From there, we might see a reversal pushing the price down towards 0.95, possibly positioning it for a climb to or beyond parity (1). My stop loss is set firmly below the all-time low.

Thanks for reading my analysis. Always happy to share my insights. Happy trading!