LegionQ8

Euro can continue to trades inisde upward channel

Long
FX:EURUSD   Euro / U.S. Dollar
Hello traders, I want share with you my opinion about Gold. By observing the chart, we can see that the price some days ago bounced from the support line and rose to the resistance line, breaking the 1.0685 resistance level, which coincided with the seller zone, but soon Euro rebounded back from the resistance line. Next, the price entered to upward channel, where it declined until to buyer zone, which coincided with the 1.0525 support level. After this movement, the Euro at once rose to the resistance line of the channel, thereby making a fake breakout, but in a short time, it fell to the support line, breaking the 1.0525 level again. Later price back up, then rose to 1.0635 points, and fell to the support level. After this, the Euro made an upward impulse to the resistance level, which coincided with the resistance line of the channel and not long time ago fell to the support line. As well recently, the price bounced from this line and now it continues to rise in the channel. Maybe the price can decline to support line and then rebound and continue to grow. For this case, I set up my target at the 1.0625 level inside the upward channel. Please share this idea with your friends and click Boost 🚀

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