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EURUSD: The price is BOUNCING on the main TRENDLINE

Long
FX:EURUSD   Euro / U.S. Dollar
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🟢Forex Pair:
EUR/USD

Technical Analysis:
During the 16th of February 2021, the price was re-testing the main resistance zone at about 1.21500, but a strong bearish candle pushed the price down breaking through its S/R zone at 1.20900.
It is currently moving on an important support zone , and as we can see in the h4 chart, this specific point perfectly match with the main trendline and the secondary trendline.
The next price action around this level will be essential to understand the next market movement.

🔴Conclusion:
As I explained in my previous analysis, I'm still confident to see the price moving up.
I previously expected the price bouncing on the level at about 1.20900 but it collapsed down with no re-test on the support.
The price almost reached the main trendline and I'll be waiting for a proper rejection on the current support level before planning my long position on this trade.

Stay tuned for Updates and Trading Signals!
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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

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Comments

wowm top idea !
+1 Reply
FXtrades-gp Henry_Ross
@Henry_Ross, thanks a lot :)
Reply
Similar to my shark pattern
+1 Reply
FXtrades-gp otavio_barreto
@otavio_barreto, really interesting chart! thanks for sharing this over here, I'll have a proper look :)
Reply
you are the best
+1 Reply
FXtrades-gp Nakabaale-Dalausi-1
@Nakabaale-Dalausi-1, wow, thanks a lot, I'm glad of a such a good words!
Reply
good potential
+1 Reply
@abel11, thanks for your support :)
Reply
nice Gianni :D
+1 Reply
FXtrades-gp TheSignalyst
@TheSignalyst 😁 glad to hear you !
Reply