As we remember, in September last year, the price experienced a collapse, after which it came to the support line at 1.681. This line, as well as the resistance line, founded also in September last long year, eventually became the main ones for the uptrend, which the price adheres to now.
During the growth in this trend, the price even managed to break through the very same support line at the point 1.741. After that, the price rose to the upper trend line of the resistance line 1.764 and returned to the support line again. Now the price is again in the area of resistance, but has not yet touched this line.
And the first thing I expect is that the price will complete the rise and touch the resistance at 1.769. Only after that will it fall to the lower trend line. It should be noted that the trend line is also crossed by a strong support line formed in July 2020. So my final target is the 1.736 support zone.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Resistance lines drive the fall