The market tested the resistance zone twice, then pulled back to the support level. FX:EURUSD is moving sideways. If you notice that the price action formed a range, it broke it only after it formed another range zone. On the weekly timeframe, we have an inside bar. I think the market might retest the middle of the range zone, which is going to be a liquidity grab below the previous week low, of course if the price rebounds and stays above it. My goal is resistance around 1.09590
Traders, if you like this idea or have your own opinion on this matter, write in the comments. I will be glad 👩💻
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The price moved lower and reached the support area. FX:EURUSD is at a quite strong support level. It formed a bullish divergence at the channel border. I think the market might spike downside taling liquidity below. If it fails to rebound, then it can potentially fall even lower towards 1.08000 support. The market is losing its bearish momentum; the price created doji candles on the 4H timeframe. I expect a retest of the resistance. My goal is the resistance at 1.09000
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ICmarkets
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The strength of the support level is impressive, especially with the RSI indicator nearing oversold conditions. Your analysis is insightful, and I eagerly await the market's behavior in the upcoming sessions.
Hello and respect I always use your comments But this time I disagree with your opinion, according to my analysis, it seems that this currency pair will go down to 1.05500