💱EURUSD - Consolidation is being formed for support breakout
Updated
EURUSD on the background of a quick retest breaks the key support and forms consolidation. A potential is formed, within the framework of the realization of which the price can quickly reach 1.0536
TA on the high timeframe:
1) Strong bearish trend continues
2) A retest of the support at 1.0635 breaks the level
3) Price opens a corridor to fall to 1.0536
TA on low timeframe:
1) Pre-breakdown consolidation is formed
2) The market enters the phase of realization of accumulation after breaking the support at 1.0635.
3) Consolidation of the price below the level will form a sell entry point
4) After the FED news, the currency pair may fall to 1.0536 after breaking 1.06350.
Key support📉: 1.06350, 1.0617
Key resistance📈: 1.0642, 1.0664
TA on the high timeframe:
1) Strong bearish trend continues
2) A retest of the support at 1.0635 breaks the level
3) Price opens a corridor to fall to 1.0536
TA on low timeframe:
1) Pre-breakdown consolidation is formed
2) The market enters the phase of realization of accumulation after breaking the support at 1.0635.
3) Consolidation of the price below the level will form a sell entry point
4) After the FED news, the currency pair may fall to 1.0536 after breaking 1.06350.
Key support📉: 1.06350, 1.0617
Key resistance📈: 1.0642, 1.0664
Note
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