EURUSD ! Change of local trend. Growing up to resistance🤩

22 Jul 2022

EURUSD on the background of economic news descends to the historical moment, when the price is equal to 1.0000. This was exactly 20 years ago.

On the chart we see a false breakdown of the level 1.0000, after which the price forms a strong bullish momentum. The price breaks through the level of 1.0146 and forms a local maximum of 1.0277. A pattern is formed, which hints to us about the change of the local trend.

I assume that the price may continue its growth at least till the resistance of the descending channel, and if it breaks through it, then till the liquidity zone of the level 1.0587. I expect fixation of the price above the level of 1.0146 and growth. The short-term target is the resistance level of 1.0357.

Regards R.Linda!