AXS is currently showing a clear trap setup around 1.041, with continuous pin bars on the daily chart combined with a death cross of the moving averages, essentially signaling that the main force's attempt to push higher and unload is about to end. This area is a tough nut to crack; the rebound is weak, and trading volume is also declining. The reversal signals are very clear.

The key question is whether the price can hold above 1.05. Honestly, it's unlikely. Once it loses that level, there won't be much support below, and a quick test of the previous low is highly probable. From a trading perspective, you can short at the current price or wait for a small rebound to enter manually. Don't be soft with your stop-loss; it must be above 1.055. The target is set below the previous low, as there is still room for this move.