LegionQ8

After strong impulse up, Euro can decline to support level

Short
FX:EURUSD   Euro / U.S. Dollar
Hello traders, I want share with you my opinion about Euro. Observing the chart, we can see how the price some time ago bounced from the support level, which coincides with the support area, and started to decline inside the downward channel. Inside channel price declined until to support line, and also broke the last support level. After Euro reached the support line, it bounced up to the resistance line, exiting from the channel and backing up higher of support level. As well, the price formed an upward pennant pattern, in which Euro declined to the support level, which coincide with the support line, and then made a strong impulse up to the support area with the level. Thereby price left the pennant and in a short time broke the current support level and continue to rise. At the moment, I think Euro can fall to 1.1090 support level, where is located my target. Please share this idea with your friends and click Boost 🚀
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