EURO - Price can bounce down from resistance area to $1.1100
Some time ago price made upward impulse from $1.1025 level and reached $1.1165 level, after which corrected.
Then price entered to wedge, where it made a fake breakout of $1.1165 level and started to decline to support line of wedge.
Euro reached support line, it bounced up, thereby exiting from wedge, and then rose to $1.1135 points.
Next, price started to trades in another wedge, where it first declined to support area, where it reached support line.
After this, price made a fake breakout of $1.1025 level and in a short time rose to $1.1165 and made a fake breakout again.
Now, price trades very close to this level, and I think EUR can bounce down to $1.1100 from resistance area.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
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.