Lingrid

EURUSD CORRECTION to RESISTANCE line and FALL

Short
OANDA:EURUSD   Euro / U.S. Dollar
Since November 2019, the price has been moving in a global uptrend. At the same time, since the beginning of 2021, the price bounced off the upper trend line - resistance 1.237 and, having formed a channel, fell to the lower support line 1.170. It was from this line that a new rise in prices began in early April.

However, there are several additional lines inside the main trend that correct the price movement. These are the two resistance lines of February 2020 and September 2019. After the price rally from the 1.170 support, it came to the resistance line at 1.209. And it has been at this line since the beginning of the week. During yesterday's day, the price dropped minimally, but again rolled back to the line. I believe that after the second touchdown, the price will collapse and come to the 1.181 support line. This will be our goal.

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

Comments

I agree! On a smaller timeframe, you can clearly see how the price rolls back and fixes on the line. I think this is a sign of a collapse and not a breakdown, so I also expect the price to fall. Only a little lower - to the border of the trend that started in January.
+6 Reply
Thanks for the forecast. I agree with you.

Today I am waiting for more information on sales in the secondary housing market in the United States.

In general, I think this decline will end at our target and the price will return to growth.
+4 Reply
From March 11, the price is repelled from your resistance line! This gives me hope that everything is on the right track! And where will the price turn then?
+4 Reply
i decided wait for june, when forecasts will updated, but if markets feel split in ranks of ecb, eurusd bulls will launch new attack. strategy of buying pair on pullbacks brings good profit. at same time, update of april high will increase risks of rally continuation.
+4 Reply
Sell, sell , sell. If i buy more trades than sell i would have making profits everyday this week. And also last week. if it's drops , I'm buying. I'm following the trade view meter . Looks very reliable , lol
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solemnAnalyst6608 solemnAnalyst6608
@solemnAnalyst6608,wait i saw something. It's going to collapse. Sorry, turn to selling mode. Going to collapse big time. Maybe next week it will collapse heavily i think. Fingers cross
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solemnAnalyst6608 solemnAnalyst6608
@solemnAnalyst6608, sorry, not heavily but gradually . Just waiting for the right moment to start green light on sell, sell, sell.
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Raging like mad bull now
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Burning now 🤦‍♂️🤦‍♂️🙆‍♀️🙆‍♀️🙆‍♂️
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