Is EURUSD getting ready to plummet?
Updated
Rectangle patterns usually act as continuation patterns – as we see on the 4H timeframe, on 12 May we saw EURUSD break out of the ranging rectangle pattern and fell to the big monthly 1.0350 support level (and 2017 low of 1.0341) before finding demand there. With price currently pushing for a re-test for the breakout zone, could a rejection of 1.05 to set the pair up for another leg lower?
Trade closed: target reached
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