LegionQ8

Euro can make small movement down more and then start to grow

Long
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 some days ago entered to triangle, where it at once rebounded from the resistance line, which coincided with the 1.0885 resistance level with the seller zone and in a short time declined to support line of this pattern. After this movement, the price rebounded from this line and started to grow back to the resistance line of the triangle, and when EUR reached this line, and soon exited from the triangle. Then the price broke the 1.0885 level and rose a little higher, but quickly turned around and started to decline inside the downward channel. In the channel, the price broke one more time at 1.0885 level and later fell to the support line of the channel, after which it turned around and rebounded up. Euro exited from the downward channel and soon reached the 1.0885 level again, but at once turned around and made a strong downward impulse to the current resistance level, which coincided with the resistance area. After this, the price also broke this level too and at the moment it continues to decline. In my opinion, the Euro can make a small movement more, after which it turns around and rises to the 1.0700 resistance level, which is my target too. Please share this idea with your friends and click Boost 🚀

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