EURUSD ( TRADING INSIDE DESCENDING CHANNEL ) ( UNDER CPI ) (4H)
EURUSD
HELLO TRADERS
currently of the price trading inside descending channel and stabilizing below turning level , today at 3.30 we have a CPI news that has a huge impact on market movements .
TARGET LEVEL :
HELLO TRADERS
currently of the price trading inside descending channel and stabilizing below turning level , today at 3.30 we have a CPI news that has a huge impact on market movements .
- Tendency , the price is under bearish pressure , until trading below turning level around 1.101 .
- Upward Zone : for an upward movement to occur , the price needs to break through the turning level at 1.101 , leading to rise that could reach the resistance level (1) at 1.105 , if the price breaks and stabilizing above this level it may attempt to reach resistance zone between 1.109 and 1.113 .
- Downward Zone: as long as the price remain below the turning level at 1.094 , it may drop towards the support level (1) at 1.094 , if the price breaks this level with a 4h candle closing below it , it suggest further decline towards the support zone between 1.088 and 1.084 .
- CORRECTIVE : currently price it will be attempt to retest to reach a turning level at 1.101before dropping .
TARGET LEVEL :
- RESISTANCE LEVEL : 1.105 ,1.109 , 1.113 .
- SUPPORT LEVEL : 1.094 , 1.088 , 1.084 .
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