LegionQ8

Euro can rebound up from support line of triangle to 1.0840

Long
FX:EURUSD   Euro / U.S. Dollar
Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price a not long time ago rising in an upward channel, where it broke the 1.0925 resistance level, which coincided with the seller zone and soon reached the resistance line of the channel. But then EUR turned around and in a short time declined below the 1.0925 level, breaking it and also exiting from the upward channel and starting to decline in a downward channel. In this channel, the price tried to back up, but when the Euro reached the resistance line, which coincided with the resistance level, it rebounded and continued to fall. In a short time later Euro declined to the support line, after which it rebounded up to the resistance line of the downward channel and then made a downward impulse to the buyer zone, thereby exiting from the downward channel and breaking the 1.0750 support level. But after this movement, the price entered to triangle, where the Euro turned around from the support line and soon rose to the resistance line, breaking the support level one more time. Recently it rebounded down from this line and at the moment Euro trades near the support line. So, I think that EUR can fall to the support line and then rebound up, higher than the resistance line, thereby exiting from the triangle. For this case, I set my target at the 1.0840 level. Please share this idea with your friends and click Boost 🚀
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