Euro can leave pennant, make retest, and continue to grow
Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see that a few days ago price bounced up from buyer zone and rose to resistance line. After this movement, Euro made correction to support line, which coincide with past support level. Then price bounced up and started to rise between resistance line and support line and a few time later, it bounced from support line and made upward impulse higher of current support level, thereby breaking it. Next, Euro made correction to resistance area, but soon bounced up to resistance line and after this move it started to decline to support line, thereby forming pennant. When price fell to support line, it broke support level, but a not long time ago Euro backed up and now trades inside resistance area, which coincides with resistance line. I expect that price can bounce up, thereby exiting from the pennant and the resistance area and then make a retest. After these movements, Euro maybe can continue to grow, therefore I set my target at 1.0970 level. Please share this idea with your friends and click Boost 🚀
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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.