Lingrid

EURUSD first - fall, then - GROWTH from intersection of channel

Long
FOREXCOM:EURUSD   Euro / U.S. Dollar
Since the spring of 2020, we have been observing price movement in a strong growing channel. Within the channel, of course, additional support and resistance lines were formed, and one of these lines - support from December 2019, and the second - from February 2020. In January of this year, the price touched the upper border of the senior channel - resistance 1.233. Then the fall began. And during the fall, the price formed another small channel. Descending this time.

I expect that by the end of April the price will drop to the point of intersection of these channels and touch the strong support of 1.178, after which it will push off and start a new growth. I expect that during this growth the price will come to the upper line of the falling channel - the resistance line 1.208. This will be our goal.

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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