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LegionQ8
May 11, 2023 7:30 AM

Euro break support of triangle and can continue to decline Short

Euro Fx/U.S. DollarFXCM

Description

Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price broke through the resistance at the level 1.0910, continued to rise, reached the level 1.1075 and formed the resistance area. Euro made a deep correction to the support level, continued the upward movement, retested the resistance area 1.1075-1.1090, bounce off and began to fall. Over time, the price created a descending triangle in which it traded for a long time. Not long ago, the Euro retested the resistance line of the triangle, bounced and began to fall. The price, formed downward impulse broke through the support area 1.0950-1.0940 and left the triangle. The Euro is currently trading below support for the triangle, but could rise, test the current resistance area and continue to decline. The price can continue downward, so the targets I set at the support level 1.0910 and at level 1.0880. Please share this idea with your friends and click Boost 🚀
Comments
Serana2324
Thank you for your analysis!
P_S_trade
Thanks for sharing your vision
TheNewsCrypto
Agreed, Great Analysis
JoeChampion
Brilliant work Legion!
TheCryptagon
Well done. Keep enriching our community with more quality posts!
InvestingScope
Great technical analysis, thank you for sharing.
jpeacockfx
Good analysis. Thank you!
TradingShot
Thank you. Holding similar positions.
Babenski
Amazing
HAMED_AZ
Great idea
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