RLinda ! EURUSD-> The retest of the support of 1,00 What's next?

14 בספט׳ 2022

EURUSD As I pointed out in the last idea, the possible scenario with the highest chance of triggering is a false break of the global channel resistance.

In the chart above, I used a higher time frame to show how price accelerates its fall as part of the transition from one downtrend channel to another with a blunter fall angle.

The price cannot move up from the 1.0000 zone, which means that someone is interested in it and EURUSD once again breaks the strong support level and essentially forms a retest of the 1.0000 zone. The potential for a move down to support at 0.98000 or to the lower boundary of the price channel (support)

I suppose if the price is able to consolidate under 1.0000 level, there is a chance that we will see the continuation of falling. The short-term target is the support level 0.99000, the medium-term target is the level of 0.98000.

Regards R.Linda!