Euro can make upward impulse, breaking the resistance level
Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how that price after bouncing from the seller zone, entered to downward channel and started to fall. Inside channel price firstly declined to support area, which coincides with support level too. But soon Euro continued to fall and declined below this area to the support line, thereby breaking the support level. After this, the price bounced up to the support area and exited from the channel. Then Euro made a correction to the support line and at once made a strong impulse up to the seller zone, which coincide with the resistance level. In a short time, it made a correction and then bounced higher of the seller zone, but soon fell below again. Next price repeated this movement again and then declined to support line, on which recently Euro bounced and start to grow. I expect that price can make a little movement down and then continued to move up to resistance level. Also, maybe Euro can try to break this level. If the price break this level, it can make a retest and then bounce up. Therefore I set two targets, the first target at the 1.0930 resistance level and the second - the 1.0990 level. Please share this idea with your friends and click Boost 🚀
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.