$FXS is showing strong momentum with a +14% move in the last 24 hours, currently trading around 0.86. After a prolonged consolidation near 0.74–0.76, price has delivered a clean impulsive breakout, followed by healthy continuation. On the 1H timeframe, consecutive bullish candles and strong follow-through confirm buyers are in control.
The move from the local low 0.747 to the recent high 0.88 suggests a shift in market structure. As long as price holds above the breakout base, the bias remains bullish.
Market Structure & Momentum
Clear breakout from range with expansion candles
Shallow pullbacks, indicating strong demand
Previous resistance near 0.82–0.84 now acting as support
Volume expansion supports continuation rather than a fake move
Trade Setup
Entry Zone: 0.84 – 0.86
(Preferred on minor pullbacks or consolidation above support)
Target 1: 0.90
Target 2: 0.96
Target 3: 1.05
Stop Loss: 0.80
(Invalidation if price loses the breakout support)
Outlook
If $FXS holds above 0.84 and breaks 0.88 with sustained volume, the probability of continuation toward the higher targets increases significantly. Momentum favors the bulls, and any short-term dips into support may attract buyers.
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