💱EURUSD - A correction signal is generated

4 Okt 2023

EURUSD is forming a local false breakout. The base of the pattern "double bottom" is the level of 1.049 and we see a breakout (return) of this line. In the near future a correction may be formed after which the local growth will continue. But we should not forget - the global trend is bearish

TA on the high timeframe:

• False breakout of resistance. If the price returns beyond 1.0536 a strong rebound will be formed
  
• The liquidity area interesting for the market appears - 1.06000
  

TA on the low timeframe:

• False breakout will form an imulse.
  
• A correction back to support may be formed, which will form an entry point
  
• Buy entry point could be 1.0490, 1.0499.
  

Key support📉: 1.0490
Key resistance📈: 1.0560, 1.05900