Lingrid | EURUSD fake BREAKOUT. Short from RESISTANCE for FX:EURUSD by Lingrid

Lingrid | EURUSD fake BREAKOUT. Short from RESISTANCE

market recently made a false breakout above the resistance zone at 1.03200-1.03300. On the daily timeframe, the bearish trend remains intact. In response to the news release, the price dropped, and I think this downward momentum will persist, driving the price to lower levels. Furthermore, the market broke and closed below the upward trendline, which had been supporting a pullback against the major downtrend. This breakout suggests a potential continuation. I expect the price to continue to move lower, pending confirmation such as a rejection candle. My goal is support zone around 1.02475

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Lingrid

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