Euro can continue to decline inside downward wedge

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 some time ago started to grow inside the upward channel to the resistance line, thereby breaking the 1.0725 resistance level, which coincides with the seller zone. After this movement, the price bounced down and after reaching the resistance level, broke it and fell below. But then the price started to rise inside one more upward channel again, after which the Euro entered to downward wedge, where it rebounded from the resistance line and made impulse down to 1.0615 current resistance level, which coincided with the support line of the wedge. Then the price tried to rise but failed and bounced down to the support line, breaking the 1.0615 level. After this, the Euro rebounded from this line and at the moment it trades near the resistance line. For my mind, Euro can reach the resistance line, bounce, and continue to fall to the support line, which is located with my target - 1.0550. Please share this idea with your friends and click Boost 🚀

🔷Join my telegram channel for free - t.me/legionq8

💰About Premium Signals Group all details you can see here - t.me/legionq8/812

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.