💱EURUSD - Resistance retest amid DXY growth halt

19 בספט׳ 2023

EURUSD is still within a downtrend. On D1 we see the beginning of a reaction to a strong support line. There is a chance that on H1 price could break resistance

TA on the high timeframe:
1) if we pay attention to XAUUSD, gold is rising on the background of DXY growth stop. If the latter starts an active decline (news this week), eurusd will give a bullish impulse to 1.08023
2) Against the background of support retest at 1.0635 we see the beginning of correction

TA on the low timeframe:
1) Price does not reach trend support as a strong liquid area below 1.0635 (limit support level) is formed, which pushes price away
2) A retest of trend resistance is forming. On a bounce off strong support, price could quite possibly break this area.
3) An impulse to 1.08023 could form on a break of resistance, but if the breakout is false price will form a rebound to support

Key resistance📈: 1.0707, channel resistance
Key support📉: 1.0635