EURUSD → The realization phase isn't over. Emphasis on 1.095 ↓

9 Okt

EURUSD breaks the uptrend and prepares to continue falling due to the change of fundamental background, the reasons for which were strong economic data in the US. The price is in the realization phase...



The weekly timeframe clearly shows the forming sideways range (consolidation). The market failed to break the resistance of the channel, although a lot of effort was put on it (5 attempts on W1).
At the moment the currency pair is testing last week's low, it is also worth noting the fact of weekly candle closing - almost at the low. This is a rather good and promising sign for the continuation of the downward movement. Emphasis on the support at 1.095. Breakdown and consolidation of the price below this area will strengthen the decline to the intermediate bottom...

Support levels: 1.095, 1.0892
Resistance levels: 1.100, 1.1011, 1.1047

A pre-breakout consolidation is forming relative to support. Emphasis on the breakdown of the level and further decline to the zones of interest. As an unpredictable scenario we can have in mind a pullback to 1.100 and further decline...

Rate, share your opinion and questions, let's discuss what's going on with ★ EURUSD ;)

Regards R. Linda!