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LegionQ8
Apr 25, 2023 9:07 AM

Euro trades in triangle and can drop to support lineΒ Short

Euro Fx/U.S. DollarFXCM

Description

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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 πŸš€
Comments
KlejdiCuni
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Great job buddy. I agree with your idea. EURUSD has to move down again.
JoeChampion
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Good job!
FOREXN1
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Was a good idea :) Thanks !
Serana2324
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Great charting style, thank you!
KABHI_FOREX_TRADING
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Thanks for sharing good ideas
UnknownUnicorn15614419
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Not the clearest technical analysis, but the description totally brought it out)
ProjectSyndicate
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upvoted to support you
HAMED_AZ
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thanks for sharing
basictradingtv
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keep up the great work buddy!
BKTradingAcademy
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Strong set up and I agree with you. It’s rejecting the weekly level and likely push down.
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