Euro can decline to buyer zone again and then start to rise
Hello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price a not long time ago entered to downward channel, where firstly it broke the resistance level, which coincided with the seller zone and rose to the resistance line of the channel. Next, the price turned around and soon fell to the seller zone, but later price tried to back up and failed, after which in a short time Euro declined to support line of the downward channel, breaking the 1.0815 level. But then, the price started to rise and soon backed up to the seller zone, after which it some time traded near this area, and then made a strong downward impulse to support level, exiting from the channel and breaking the 1.08150 level one more time. Price started to trades near the 1.0620 support level, which coincided with the buyer zone and sometimes it even declined to this area, but a not long time ago EUR rebounded up. So, in my opinion, the Euro can decline to the buyer zone again, and then repeat movement up higher current location. For this case, my 1st TP is located at the 1.0740 points. Please share this idea with your friends and click Boost 🚀
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.