Euro can rise a little more and then start to decline

5 Sep

Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some time ago started to grow inside the upward channel, where it soon grew to resistance level, which coincided with the seller zone. After this, the EUR turned around and made a correction movement to support line of the channel and then rebounded up. Price made a fake breakout of the resistance line of the channel and also the 1.1160 level, after which started to fall. In a short time, the EUR left the channel and continued to decline inside the wedge, where it at once dropped from the resistance line to the support line, which coincided with the support level and buyer zone. Soon, EUR broke the support level and fell to the support line of the wedge, but later it turned around and made a strong impulse up, thereby breaking the 1.1055 level one more time and exiting from the wedge pattern. To this day, the price continues to move up, so, I think EUR can rise a little more and then make a correction movement to the 1.1055 support level, where is located my TP. Please share this idea with your friends and click Boost 🚀