Lingrid | EURUSD Correction and Continuation from the RESISTANCE

The price perfectly fulfilled my last idea. It hit the target zone. EURUSD is forming a complex pullback towards the resistance zone after breaking out of the range zone. The market made a correction against the current bearish trend. Today we don't have high-impact news, so I think it might continue moving sideways. If the market rejects the resistance zone at 1.08100–1.08200, we can expect a rebound from it. My goal is the support level of around 1.07245

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Comment:

The market bounced off the resistance zone and formed an impulse leg. EURUSD is ranging after the bearish move on the 4H timeframe. We have high-impact news today, CPI. Basically, the market can go in any direction. However, price action may form a pennant pattern. I expect the market to fall from the resistance zone toward the support level and breakout of the upward channel. My goal is a support level of around 1.07500

Trade closed: target reached