LegionQ8

Euro can fall to support level and try to decline lower of it

Short
FX:EURUSD   Euro / U.S. Dollar
Hello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price a few moments ago rebounded from the 1.0660 support level, which is located in the buyer zone, and fell to the support line of the upward channel, but soon it rolled back. Then price rose higher than the 1.0660 level, breaking it and made correction to the buyer zone, after which EUR made an upward impulse to the resistance line of the channel, which coincided with the current support level. After this, the price tried to break this level, but only made a fake breakout and fell to the support line of the upward channel. Then Euro rebounded from this line and made an upward impulse higher 1.0950 level, which coincided with the support area, thereby breaking it again. At the moment, EUR trades near the support area in the upward channel and I think that the price can decline to the support level and try to break it. After the breakout, the Euro can make a retest, or at once continue to fall. So, that's why I set two targets, the first target at the 1.0950 support level, and the second - at the 1.0835, which coincided with the support line of the channel. Please share this idea with your friends and click Boost 🚀

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