EURAUD GROWING in trend

After the price broke through the 1.623 support line in December 2019 and reached the 1.639 resistance line, a downtrend was formed. And these two lines became trend guides.

The line of support in this case is stronger and older - it appeared on the garfic in October 2020. And during the entire existence of the trend, it was broken only twice and both of these breakouts turned out to be false.

So the first breakdown - the minimum - occurred in December, and the second at the beginning of this week. The price dropped behind the line at point 1.563 and returned back within 24 hours, breaking through the line this time during the growth. And right after the breakout, without even completing the correction, the price continued to rise.

Therefore, now I expect that the growth will continue and the price will come to the resistance line 1.572. This is our goal.

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