EURUSD: consolidation in a trend or the beginning of a fall?
As we expected yesterday, the price dropped to the lower boundary of a small uptrend - the 1.206 support line. The trend started at the end of March from the line supporting the older downtrend - 1.170. During this month, the price reversed several times in a fall, but each time it was only a correction to an increase. Therefore, even now, we can expect that after bouncing off the support at 1.206 the price will continue to grow and come to the resistance at 1.217.
Remember, there is no place for luck in trading - only strategy!
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Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
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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.