themarketzone

Near downtrend line - How it will open the new trading week?

FX:EURUSD   Euro / U.S. Dollar
The Kiss Of Life setup ( KOL             ) shown near 1.1 triggered small rally that pushed $EURUSD to 1.12, which was my bullish target level and the meeting zone with the 4H downtrend line.
Now the focus is on this trend line . A close above it could lead $EURUSD to 1.14 and potentially towards 1.18 and a bearish AB=CD completion.
If the $EURUSD will remain below this trend line , it'll mean that the bearish potential is still there and that 1.1 will be the initial target zone and perhaps even 1.07 (a bullish Gartley completion zone).
1.1 - Major support zone
1.11 - Minor support zone
1.07 - Support and bullish pattern completion
1.14 - Major resistance
1.13 - Minor resistance
1.18 - Extended target level for bullish move

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