#EURUSD 24 03 2021
I want to remind you that the price has been moving in the global ascending channel since February last year. And at the beginning of this year, it touched the resistance line of this channel at 1.233, after which the process of falling began. This fall also fits into a small downtrend channel that formed in October last year. For us, the most important thing that happened during the fall was the breakdown of the resistance line 1.1198, which took place in early March. This line was the lower border of the ascending channel, and after the breakout the price left it. Now I expect the price to bounce off the 1.181 support line and rise to the 1.201 resistance line. This will be our goal.
I want to remind you that the price has been moving in the global ascending channel since February last year. And at the beginning of this year, it touched the resistance line of this channel at 1.233, after which the process of falling began. This fall also fits into a small downtrend channel that formed in October last year. For us, the most important thing that happened during the fall was the breakdown of the resistance line 1.1198, which took place in early March. This line was the lower border of the ascending channel, and after the breakout the price left it. Now I expect the price to bounce off the 1.181 support line and rise to the 1.201 resistance line. This will be our goal.