EURUSD start FALLING to support line

12 בפבר׳ 2021

Let me remind you that from the beginning of this week we expected that the euro-dollar will reach our intermediate target - the resistance line, from which the fall should begin.

The price completed the growth from the support zone.

Touched the resistance line and prepared for a reversal.

Over the past day, the price has consolidated in the zone and has begun a still weak downward movement.

Since this zone is at the intersection of the strong resistance line of February 2020 and the resistance line of the downtrend channel of December 2020, I continue to expect a fall. I expect the price to fall from the 1.212 resistance zone to the 1.196 support line.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻