Lingrid

EURUSD correction near SUPPORT zone and continued GROWTH

Long
FX:EURUSD   Euro / U.S. Dollar
Continuing its movement in the global uptrend that began in May 2020, the price came to the support zone in the middle of this 1.205 channel. This zone formed at the intersection of the strong support level and the line formed in the middle of the channel.

And from this zone, we have repeatedly been able to observe the price correction. This time, too, the price touched the zone at the beginning of the week, increased minimally and rolled back again. Therefore, now I expect it to consolidate in the zone and continue to grow. Thus, my final target is the resistance line at 1.223.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Comments

On January 6, the price bounced off the upper channel line and began to fall! Why doesn't it continue to fall to the lower channel line?
+5 Reply
Lingrid Solldy
@Solldy, i considered this option, then the support line has become stronger and it is impossible for the price to pass through it
Reply
I was also confused by yesterday's correction, as I was expecting a rise all this time (But I see that you were able to update the idea. Cool! Will the price reach the upper border of the channel?
+3 Reply
Lingrid TradingStat
@TradingStat, I can't answer exactly right now
follow my updates and find out the answer to your question
Reply
dollar grows together with increase in yield of bonds. what is your plan b?
+2 Reply
Lingrid TradingAlchemist
@TradingAlchemist, a trader should always have a plan b
so yes, there is one
if the price suddenly disobeys me, you will see an updated idea
Reply
thanks for sharing, here's my view on EURUSD:
+1 Reply
@FXCM, thanks for chart)
Reply
I have adjusted my forecast for the fall and expect a slight pullback first and then growth.

Don't you think about correction?
+1 Reply
Lingrid DeGRAM
@DeGRAM, I don't think there will be a pullbac)
time will tell
Reply
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