EURO - Price can exit from pennant and drop to $1.0650 points

30 Mar

Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊

Some time ago price made strong upward impulse and broke several resistance levels on its way to the top.

Then it started to consolidate and formed a pennant pattern with a series of lower highs and higher lows.

Price touched upper boundary of the pattern and bounced down, showing weakness near resistance zone.

Recently Euro broke through the pennant support and tested $1.0790 level from above with no strength.

Now it trades slightly above the breakout point and stays below key trendline and local resistance area.

In my opinion, Euro can continue to decline and reach $1.0650 support level, exiting from pennant in the coming days.

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31 Mar

İşlem aktif

OK, price started to decline. So, I think it can continue to decline next.