EURUSD ! Breakdown of the local up-trend. Still falling? 🥶

17 באוג׳ 2022

EURUSD still breaks through the triangle upwards and forms a strong momentum, but this movement was not enough for the price to break through the resistance of the global downtrending price channel.

The price makes a false break of the resistance and forms a pullback, within which the price breaks the lower boundary of the local ascending price channel.

The price is trading short inside the range. I think the downward movement will continue.

I assume that eurusd will continue its downward trend as the price movement in the channel is the priority at the moment. The price is consolidating under the support of the triangle and the ascending channel, forming a short set-up. The short-term target is support at 1.0075.

Regards R. Linda!