The price perfectly fulfilled my previous idea. It hit the target level. FX:EURUSD is making lower lows, showing bearish dominance. On the weekly timeframe, the market formed a huge bearish candle. The price has broken through the key level that was holding price since the beginning of December. Most likely, the price is going to continue moving downward towards the demand area around 1.05000–1.05500. I think the market will make a pullback, then move lower, retesting 50% of the previous daily candle. I expect the price to move sideways until the New York session because of upcoming news. My target is the support levle at 1.05800
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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The price perfectly fulfills my last idea. It is slowly moving downward. FX:EURUSD is heading toward the Deman zone on the daily timeframe. The price broke low the low the previous day, which opened the door for further moves down. I think the market may retest the November lows because, on the weekly timeframe, we can see that the price has gained bearish momentum. I expect the market to move up and then continue moving downward, possibly retesting the key level at 1.05000. My goal is the support level at 1.05500
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