LegionQ8

Euro can break resistance level and rise to 1.0840 points

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 rebounded from the current 1.0785 resistance level, which coincided with the resistance area and made a strong upward impulse to the seller zone. But soon, the price made little correction and some time traded near the 1.0980 resistance level and later broke it, after which the price in a short time rose to the resistance line of the wedge. After this, the Euro turned around and soon declined below the 1.0980 level, breaking it again, after which price some time traded near and then started to decline. Price declined until to the current resistance level, and at once rebounded up to the resistance line, but a not long time ago it bounced and in a short time declined to the support line of the wedge, breaking the 1.0785 level. Also recently, Euro bounced from this line and rose to the resistance level, making a retest and soon bouncing down, so now it trades near the resistance area. In my opinion, the Euro can decline to the support line, after which the price rebounds and starts to move up to the resistance line of the wedge, thereby breaking the resistance level. For this case, I set my target at the 1.0840 points, which coincided with the resistance line. Please share this idea with your friends and click Boost 🚀

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