Euro can break support level and continue to decline in channel

23 Haz

Hello traders, I want share with you my opinion about Euro. Observing the chart, we can see that the price some time traded near the resistance level inside the seller zone, after which it rebounded from this area and tried to grow, but soon turned around and started to decline inside the downward channel. Inside the channel, the price first broke the 1.0865 level and then fell to the support line of the channel, making a gap also. Then Euro rebounded from the support line and rose to the resistance line of the channel, after which turned around and in a short time declined to the support level, which coincided with the buyer zone with the support line of the downward channel. After this movement, the price tried to grow from this level, but later it turned around and in quickly declined back to the 1.0675 level, where it continues to trades close to this day. So, in my opinion, the Euro can make an upward movement to the resistance line of the channel and then rebound down to the support level. After this movement, the price will break this level and continue to decline inside the downward channel, therefore I set my TP at 1.0600 points. Please share this idea with your friends and click Boost 🚀