Overall, I would hope the long term trend line is respected, keeping that overall long term bullish consensus. If broken and price closes below we could be looking at lower levels around 0.27 to 0.28, however, the fact it has bounced gives us a long positive consensus and a good reason to buy the lower prices.
Don't target 'goal' or 'ideal' prices as this gives...
1. Added in a simple trend line along with the lower pivot points.
2. If the trend line is broken through I would expect a dip lower into demand area 1.
3. Thereafter expecting a bullish move towards supply area 1.
This seems a good bullish setup.
*This is not financial advice and purely my own expectation and opinion.*
See below link to my associate's website.
Not only has the EURUSD bounced off demand and the trend line. The range, despite a slow day, hasn't been large enough to denote a possible change in direction. Bias still remains short for the long term, awaiting potential break short or retracement to recent supply area.
Britain has dented the euro, influencing many other countries to potentially follow. Italian Euro Exit has been brought to surface, which in turn will weigh on the euro even if it only a short term "idea." If I'm am wrong I am covered and willing to wait it out.
The chart shows consistent short breaks of channels. We're currently on the 3rd channel, testing...