Bearish BNTX - 17 November 2023 - Technical Analysis

EURUSD Forex

BioNTech

Bearish Closed

Charts by TradingView

A Price Action Descending Triangle pattern formation on the 4 Hour time frame chart supports BioNTech Bearish bias. A break of 97.46 will support the fall towards the target of 84.39 the break of 84.39 would push the price to 75.68.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 102.91
Support S1: 102.68, S2: 102.54 , S3: 102.31
Resistance R1: 103.05 , R2: 103.28 , R3: 103.42

Brokers

Open account

Summary

Instrument :

BioNTech

Direction :

Bearish

Pattern Name :

Descending Triangle

Probability :

50%

Entry Level :

97.46

Activation Time :

2023-10-16 17:30

Age :

121 Bars

Progress :

75%

Close Time :

2023-11-17 18:30

Time Frame :

4 Hour

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

There are no signals right now

Descending Triangle

A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. a descending triangle can be either bearish or bullish. Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish.