Euro can exit from range and continue to decline next

3 באוק׳

Hello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price entered to wedge and at once started to decline to the support line from the resistance line. After this, the price turned around and made a strong impulse up to the resistance line of the wedge and then at once made a correction movement. Next, EUR continued to move up and soon reached the 1.1030 support level, but at once made a correction to the support line of the wedge and then rebounded up, breaking this level. After this, in a short time, the price rose to the seller zone, where it turned around and started to decline. Euro exited from the wedge and started to trades inside range, where it fell to the buyer zone. Soon, the price turned around and rose to the 1.1180 resistance level, which coincided with the top part of the range, making a fake breakout of the 1.1030 level. Also then, the EUR tried to break the resistance level, but failed and a not long time ago dropped to the support level. Just now, the price trades very close to this level inside range. For this reason, I think the price can break the support level, thereby exiting from the range and continuing to move down. Therefore I set my TP at 1.0920 points. Please share this idea with your friends and click Boost 🚀

4 באוק׳

עסקה פעילה

Great! EUR broke support level and now it trading in buyer zone, for this case, I think it makes small movement up and then continue to decline to my TP.