Since May last year, the price has been falling in a trend that was guided by two lines - resistance, also formed in May and support, which appeared on the chart in January. At the same time, the price made false breakouts of both lines. After a strong breakdown of the resistance line, the price returned to the trend at the end of last year - it broke through the resistance at 1.606.
Then it tried to break through the support line 1.537, but the fall was stopped by a strong support level. The price has been moving along this level for some time in the border of the support zone and now I expect it to rebound from it and rise to the resistance line 1.567. Then it will fall again. So my final target is the 1.537 support level.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
volume of retail sales of germany will not pass by euraud. so Ii will refrain from trade
Solldy
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You showed the zone very well! But I don't think it is very strong as you say! She only pushed the price off a couple of times, so I wouldn't trust it yet! But I really like the idea! Thanks!
DeGRAM
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How has the Australian trade balance publication influenced price action?
It seems to me that there is a chance that the price will first fall and then rise.
UnknownUnicorn15614419
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Tell me, which SL is better for me to use if I decide to trade according to your prediction? The sale will not end before the price touches the resistance.
JvC-Fx
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Trade idea is still looking good! Also below ema100 HTF (monthly rejection) Also below big resistance. Still a good entry point for a great risk to reward into next week!