EURUSD tests resistance line and fall
Since November, the price has been moving in an upward channel.
The movement is corrected by the senior resistance line and the lower one - by the support.
Recently, the price rose to the resistance line of 1.223.
This is the line from October this year.
The price moves along this line for a long time.
However, this is an off-flight movement - uniform without strong pullbacks or breakouts.
Therefore, I don't think the price will rise above the line.
To do this, she will need strong support.
And the price does not have such support.
Now I expect that from the resistance line (despite the false breakout) the price will collapse to the support zone.
This zone is where the November and December 2020 support lines intersect.
The target is 1.207.
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Share your opinion in the comments and support the idea with likes.
Thank you for your support!
The movement is corrected by the senior resistance line and the lower one - by the support.
Recently, the price rose to the resistance line of 1.223.
This is the line from October this year.
The price moves along this line for a long time.
However, this is an off-flight movement - uniform without strong pullbacks or breakouts.
Therefore, I don't think the price will rise above the line.
To do this, she will need strong support.
And the price does not have such support.
Now I expect that from the resistance line (despite the false breakout) the price will collapse to the support zone.
This zone is where the November and December 2020 support lines intersect.
The target is 1.207.
-----------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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