LegionQ8

Euro can break resistance level, make retest and then bounce up

Long
FX:EURUSD   Euro / U.S. Dollar
Hello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price some days ago price declined to the 1.0725 resistance level, which coincided with the seller zone, and soon price fell below it. But later Euro backed up to the seller zone and some traded there, after which it rolled down to the support line, breaking the 1.0725 level again. Then price started to grow near the support line to the resistance level and after the Euro reached this level, the price broke it, but soon fell back, making a fake breakout. After this, the price rebounded down, below the support line, thereby breaking and later it entered to downward channel, where the Euro broke the 1.0575 current resistance level, which coincided with the buyer zone and fell to the support line of the channel. But some time later the price bounced from this line and made an upward impulse, higher than the 1.0575 level, thereby exiting from the downward channel and breaking this level. But recently Euro fell back to the buyer zone where it continues to trade very close to the resistance level now. In my mind, the Euro can break the resistance level, make a retest, or at once continue to rise. Therefore I set up my target at the 1.0650 level. Please share this idea with your friends and click Boost 🚀
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