LegionQ8

Euro trades in triangle and can drop to support line

Short
FX:EURUSD   Euro / U.S. Dollar
Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price after retesting the buyer zone began an upward movement. Euro reached the level 1.0975, made a deep downward correction and continued to rise. The price broke through the resistance level and continued to move uphill. Over time, the Euro has created an upward triangle and is currently trades inside. After retesting the resistance line of the triangle, the price fell and broke through the current support level and traded lower for a long time. We can see how not so long ago the price rose to the resistance line of the triangle, tested it and bounced. Euro can continue upward movement, but after a possible deep correction. Now the price is trading below the resistance line and can continue to decline. I think the price could fall to the support line of the upward triangle. Based on these data, the target for the Euro I decided to set at level1.1015 and at level 1.0975, which coincide with the support line of the triangle. Please share this idea with your friends and click Boost 🚀

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