EURUSD FALL after the second correction

21 Jan 2021

We continue to observe the second stage of price movement in accordance with my forecasts from the beginning of this week.
Let me remind you that the first thing the price broke through the resistance line at 1.215, during the fall from the strong level of 1.121. However, having dropped behind the line, the price stopped and reversed in order to work out the correction and fix on it.

Then it completed the correction and touched the resistance line at 1.217, after which I expected the fall to continue.

And so it happened - the price bounced off the line and started moving down.

At this point, I have to adjust my forecast, because after the start of the fall from the resistance line, the price reversed in another correction. However, I continue to expect a fall.
The price will touch the resistance line again at the point 1.216, after which it will fall to the support line. The target is thus the 1.192 support line.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻