💱 EURUSD - False break of flat resistance
EURUSD is trading inside the sideways range - flat. A false breakout of resistance is formed, this signal can send the price to 1.0490.
TA on high timeframe:
1) The price forms a symmetrical trigonal pattern
2) After a false break of resistance, the price may head for a break of the triangle support and start a further fall to the flat support.
TA on the low timeframe:
1) False flat breakout
2) Consolidation below the line will be a sell signal.
3) Also, the flat is formed after the resistance breakout on D1. Most likely, the market is not ready to rise yet and may start falling.
Key resistance: 1.0609
Key support: 1.049
TA on high timeframe:
1) The price forms a symmetrical trigonal pattern
2) After a false break of resistance, the price may head for a break of the triangle support and start a further fall to the flat support.
TA on the low timeframe:
1) False flat breakout
2) Consolidation below the line will be a sell signal.
3) Also, the flat is formed after the resistance breakout on D1. Most likely, the market is not ready to rise yet and may start falling.
Key resistance: 1.0609
Key support: 1.049
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