💱 EURUSD - the market maker leads the price to resistance
Updated
EURUSD forms a downward price channel. The boundaries of the range have numerous confirmations.
TA on the high timeframe:
1) After the false breakdown of 1.10000 the price fell to 1.0848 and a technical pullback is forming at the moment
2) Price has been showing neutral forces for the last month, as a sideways range is forming. There is no clear trend
TA on low timeframe:
1) Downward price channel and price is heading from support to resistance
2) Resistance, which may be of interest to the market maker is the level of 1.0909, behind which there is a liquidity area of 1.09300, which may be an MM target
3) The price is approaching the 0.382 Fibo level, the price may break it and go towards the 0.5 Fibo level
4) Going forward, the price is expected to decline from the resistance level of 1.0909-1.09300.
Key resistance: 1.0906, 1.09258
Key support: 1.0883, 1.08447
TA on the high timeframe:
1) After the false breakdown of 1.10000 the price fell to 1.0848 and a technical pullback is forming at the moment
2) Price has been showing neutral forces for the last month, as a sideways range is forming. There is no clear trend
TA on low timeframe:
1) Downward price channel and price is heading from support to resistance
2) Resistance, which may be of interest to the market maker is the level of 1.0909, behind which there is a liquidity area of 1.09300, which may be an MM target
3) The price is approaching the 0.382 Fibo level, the price may break it and go towards the 0.5 Fibo level
4) Going forward, the price is expected to decline from the resistance level of 1.0909-1.09300.
Key resistance: 1.0906, 1.09258
Key support: 1.0883, 1.08447
Note
Trade closed: target reached
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