LegionQ8

Euro can continue rise and reach resistance line of channel

Long
FX:EURUSD   Euro / U.S. Dollar
Hello traders, I want share with you my opinion about Euro. Looking at the graph, we can see how the Euro formed resistance area 1.0790-1.0805 from which the bounce back and begin to decline. The price dropped and created a support zone 1.0535-1.0515, from which it began to move up and created an upward channel. We also see how earlier the price made the downward impulse, broke through support of channel and retested the support area. After retest of the support area, the price returned to the channel and continued to move upwards and break through resistance level 1.0760. Euro make small correction to support level, retested it and continue to grow. Now the price is close to the resistance area and can continue to move and break through it. I think that after a possible breakdown of the resistance area, the price can keep moving up, so I decided to set two goals at level 1.0805 and at level 1.0830 which coincide with the resistance line of channel. Please share this idea with your friends and click Boost 🚀

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