Lingrid

EURUSD return to descending channel and continue to fall

Short
FX:EURUSD   Euro / U.S. Dollar
The price of the currency pair remains in position as at the beginning of the week, which means that at the moment I continue to expect a fall. Let me remind you that the price has been falling since the beginning of the year from the resistance point of 1.237. During this fall, it came to a strong support at 1.170, where two lines intersect at once - 2009 and 2007 (!), As well as a historically strong level of support.

From this point, the price rose to the upper border of the descending channel and even tried to break it out at point 1.189. However, I am sure that this breakout will turn out to be false and the price will fall again in the near future. It will return behind the line, fix on it at point 1.181, after which it will continue to fall and come to support at 1.172. This will be our goal.

Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad 👩‍💻

Comments

Thanks for the help
Reply
Waiting for rejection at 1.19900 if it does I can ride on ur idea
Reply
Lingrid pacifiedMaster66135
@pacifiedMaster66135, many thanks)
Reply
how about now?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out