Let me remind you, according to my past forecasts, the price really bounced off the support zone.
Continued growth.
And now I have almost come to the line of resistance.
In January 20201, the price broke through the 1.216 resistance line during the fall and thus returned to the global uptrend that it had followed since 2019. In the process of falling, the price also formed a small descending channel in which it dropped to the lower border of the global trend - the 1.172 support line.
The price has already bounced from this point and showed good growth. Continuing pso, it approaches the resistance line formed in June 2019. This line, as often happens, is formed in the middle of the channel and corrects the price movement. I expect that after touching it at point 1.203, the price will reverse and fall to the 1.178 support line. 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 👩💻
Unfortunately, we still have slightly different views on this pair, since I do not expect such a strong growth. but I definitely need to think about your prediction - it looks very strong.
DeGRAM
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I also expect a fall in price (first - a fall) but after that - a new rise.
Was the second forecast influenced by the expected number of initial applications for unemployment benefits in the US?
I wonder if the trend will continue towards the end of the week.
Solldy
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In August, the price broke through the resistance line. The same penetration took place in November! Therefore, I think that we are not insured against a false breakout, perhaps the price will even be able to reach the upper channel line!
TradingAlchemist
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european stock market today is traded above on anticipation of restoration of global economy after the us federal reserve confirmed its commitment to ultralight monetary policy