Euro can start to decline from resistance line of upward channel

17 ביולי

Hello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price started to grow inside the upward channel, where it at once declined to the support level, which coincided with the buyer zone and soon bounced up. Price in a short time rose to the current support level, which coincided with the resistance line of the channel with the support area, and then quickly fell to the support line of the upward channel. Then Euro reached the support area, after which turned around and made a downward impulse to the 1.0730 level, thereby exiting from the channel and forming a first gap. After this movement, the EUR tried to grow but failed and dropped lower than the 1.0730 level, thereby breaking it, but later price turned around and started to grow in another one upward channel. In this channel, the price soon broke the 1.0730 level and formed a second gap, after which made a retest and continued to move up. Later Euro rose to the current support level, broke it, making the last gap, and a not long time ago it rebounded up to the resistance line of the channel, where continues to trades very close to this day. So, I think the price can rebound down from the resistance line to the support line of the upward channel, breaking the support level. For this reason, I set my TP at 1.0835 points, which coincided with the support line of the channel. Please share this idea with your friends and click Boost 🚀

18 ביולי

הערה

Great! The price started to decline as I showed recently, so, I continues waiting for the Euro to drop to my TP (1.0835 points) which coincides with the support line of the upward channel