EUR/USD buy opportunity
EURUSD
Great downwards movement is made by this pair. After a long period of time , several trend lines had been created and also respected. The pair made a great downwards movement trying to reach the resist line of the previous downtrend. The price tried to touch the resist ( which becomes support ) and bounce from the same resist ( support ). If we measure the retracement which may occur, we can recognize that the 0.382 FIB retracement is pointing at the same spot with the smaller horizontal resist area, which must be respected ones more at least. The price will reach the resist area and bounce again in order to come to the main support level which is respected long period of time and there are no indicators that the support line would be broken. If the price go downwards again from the resist area, it may come down to the same area where it bounce previous time and create little accumulation zone because the price is tired and with lost momentum. The next movement must be proceed downwards to the main goal ( main support line ).
Good luck !
Please, leave a comment below !
Great downwards movement is made by this pair. After a long period of time , several trend lines had been created and also respected. The pair made a great downwards movement trying to reach the resist line of the previous downtrend. The price tried to touch the resist ( which becomes support ) and bounce from the same resist ( support ). If we measure the retracement which may occur, we can recognize that the 0.382 FIB retracement is pointing at the same spot with the smaller horizontal resist area, which must be respected ones more at least. The price will reach the resist area and bounce again in order to come to the main support level which is respected long period of time and there are no indicators that the support line would be broken. If the price go downwards again from the resist area, it may come down to the same area where it bounce previous time and create little accumulation zone because the price is tired and with lost momentum. The next movement must be proceed downwards to the main goal ( main support line ).
Good luck !
Please, leave a comment below !
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