Lingrid | EURUSD bounced off the DEMAND zone

The price perfectly fulfilled my previous idea. It hit the target level. EURUSD rebounded from the demand zone. It formed a long tail from the suppot level, indicating a level of rejection. It took out the previous week's lows and moved upside. The market, as you can see, broke above the key level at 1.08000. I think the market might move sideways because the price usually moves sideways after the impulse moves. I expect a pullback towards the support level, where the price broke the level with a big bullish candle, which shows the significance of the support. If it breaks through the previous day high, then there is a higher chance of the market moving upwards. My goal is the resistance zone at 1.08920

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

Komentar:

The price perfectly fulfilled my last idea. It bounced off the support level. EURUSD is heading toward the resistance zone. It broke and closed above the Friday highs. However, it's moving sideways, just below the previous day's highs. I think the market might keep ranging because we do not have any news today. But if it does break through to the resistance/PDH  there is a high likelihood of the market moving upward. I expect the market to roll back and then continue trending upward. My goal is the key resistance zone at 0.90000