TradingView
DeGRAM
Feb 23, 2021 9:41 AM

EURUSD false break / Fall Short

FX:EURUSD360
Euro Fx/U.S. DollarFXCM

Description

⋅
Yesterday the price rose sharply and broke through the resistance at 1.215.
However, I am convinced that this is a false breakout.
Since this is a strong resistance zone: channel resistance (December 2020) + resistance line (2019).
The price has already reversed.
Now it is within the resistance zone 1.215.
I expect the price to fall from this zone.
She will come to the line of support (historically strong level).
The target is 1.206.

--------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
Trend AnalysisEURUSDshortForex
Comments
UnknownUnicorn15614419
⋅
I see a small ascending channel here and therefore I expect the price to rise a little at first and only then start to fall.
DeGRAM
⋅
@TradingStat, Let's wait and see.
Lingrid
⋅
ECB is expected to announce a 12-month extension of the most favorable TLTRO interest rate by the end of this year.
how will the euro respond to this?
DeGRAM
⋅
@Lingrid, The question is rather how the market will react to it.

The main thing that investors do not overdone.
TradingAlchemist
⋅
if i want sell, which stop take and when start entering deal?
DeGRAM
⋅
@TradingAlchemist, SL - 1.218.

Close the trade at the support level.
Solldy
⋅
An increase in debt market rates increases the attractiveness of European assets and contributes to capital outflow, that is, to an increase in EURUSD quotes! Only growth as for me! 📈
DeGRAM
⋅
@Solldy, Thanks for sharing.

Let's wait and see.
VasilyTrader
⋅
do you consider this bearish engulfing candle that is just formed?
good clue I believe
More