LegionQ8

Euro created rounded top and can continue to fall

Short
FX:EURUSD   Euro / U.S. Dollar
Hello traders, I want share with you my opinion about Euro. Watching the chart, we see how the price bounce back from the level 1.0525 and continued its upward movement. Euro broke through the resistance area 1.0715-1.0760, continued to rise and formed an upward channel in which it traded for some time. After making a correction down, the price tested the current support area and continued to move up. Subsequently, the price left the channel, dropped to the support level 1.0830, tested it and continued to grow. After reaching the level 1.1075, the price formed resistance area and decreased. For a long time, the Euro traded below the resistance area of 1.1055-1.1075, after which it rose, retested it and began to fall. Not so long ago, the price reached the current support level and made a fake breakout. Having made a small upward correction, the Euro continued to decline and is now trading near the current support level. We can see that for a long time the price has been creating a rounded top and can now break through the level of 1.0830 and continue declining. Euro can continue the downward movement and reach the support zone. So, I decided to set the targets at level 1.0785 and at level 1.0715. Please share this idea with your friends and click Boost 🚀

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