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RLinda
Aug 17, 2022 7:08 AM

EURUSD ! Breakdown of the local up-trend. Still falling? 🥶 Short

Euro Fx/U.S. DollarFXCM

Description

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EURUSD still breaks through the triangle upwards and forms a strong momentum, but this movement was not enough for the price to break through the resistance of the global downtrending price channel.

The price makes a false break of the resistance and forms a pullback, within which the price breaks the lower boundary of the local ascending price channel.

The price is trading short inside the range. I think the downward movement will continue.

I assume that eurusd will continue its downward trend as the price movement in the channel is the priority at the moment. The price is consolidating under the support of the triangle and the ascending channel, forming a short set-up. The short-term target is support at 1.0075.

Regards R. Linda!
Comments
RLinda
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Agree?
ochyseramsey
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@RLinda, you are amazing
Artem_Dishel
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Perfect
yonsfx
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Amazing Linda
TheTradersAvenue
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Nice setup,thanks for sharing
BKTradingAcademy
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Nice work Linda! I do agree! Curious to see what happens following FOMC today.
KlejdiCuni
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Very detailed work as usual. Thanks for sharing
AtlasTrades
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awesome EUR/USD chart mate, thanks for sharing it I agree with you
FOREXN1
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Definitely agree with you same view !
YMGroup
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Very nice work, I also have the same opinion for eur
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