Euro can exit from wedge, make retest and continue to rise
Hello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price some days ago rebounded from the resistance level, which coincided with the seller zone and declined until to 1.0725 points, thereby breaking the support level. But soon, the price turned around and made a strong upward impulse to the seller zone, breaking the 1.0820 support level one more time. After this, the Euro started to trades in a downward wedge, where later it made a correction from the seller zone to the support line. Then price bounced from this line and made an upward impulse to the resistance line of the wedge, breaking the 1.0980 resistance level, but in a short time, EUR bounced from this line and started to decline. Euro fell lower than the 1.0980 resistance level, breaking it again, and then some time traded near this level, after which the price declined lower. Price fell to the support line of the wedge, which coincided with the support level with the buyer zone, and then rebounded up to the resistance line. Now Euro trades near this line and in my mind, the Euro can decline a little more and then bounce up to the resistance line. Next, EUR will break this line, exiting from the wedge, make retest, and then it can continue to move up. So, that's why I set take profit at the 1.0930 level. Please share this idea with your friends and click Boost 🚀
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