#EURUSD 12 04 2021
As you remember, since November 2019, the price of this currency pair has been forming a strong upward channel. However, the range of oscillations inside the channel is quite large, and, as a consequence, additional lines of support and resistance are also formed inside. At the beginning of the year, the price bounced off the upper border of the channel of the resistance line 1.236, after which it fell and, during the fall, was able to break through the resistance zone of 1.199. In this zone, the resistance lines of September 2019 and March 2020 intersect. After the breakdown and consolidation on the line, the price fell to the lower border of the channel, the support line at 1.172. Then it bounced off and showed a slight increase. I expect that now the price will work out the correction, return to the line and consolidate on it at the point 1.180. After that, a new growth will start and come to the resistance at 1.215. This will be our goal.
As you remember, since November 2019, the price of this currency pair has been forming a strong upward channel. However, the range of oscillations inside the channel is quite large, and, as a consequence, additional lines of support and resistance are also formed inside. At the beginning of the year, the price bounced off the upper border of the channel of the resistance line 1.236, after which it fell and, during the fall, was able to break through the resistance zone of 1.199. In this zone, the resistance lines of September 2019 and March 2020 intersect. After the breakdown and consolidation on the line, the price fell to the lower border of the channel, the support line at 1.172. Then it bounced off and showed a slight increase. I expect that now the price will work out the correction, return to the line and consolidate on it at the point 1.180. After that, a new growth will start and come to the resistance at 1.215. This will be our goal.