EURUSD at key inflection point for Break Out or Break Down

EURUSD recently broke out the long term downward trend line (White) and is retesting the break out line now. Also EURUSD has been channelling (yellow) in upward price action since mid November. If you look at the chart closely EURUSD is at key inflection point where today's candle is hitting the longer term trend line (White) and also lower end of the parallel channel.

If that level is breached and doesn't get back in the channel, expect EURUSD to hit the downward targets 1.0193 , 1.00937.

If it manages to hold the current level 1.053 and continue the momentum expect to hit the upside targets 1.07868, 1.11477.

Let me know your thoughts in comments. If you want to research any charts drop in the ticker symbol in comments.

İşlem aktif:

First target 1.07868 met today.. High was 1.08385..

İşlem aktif:

Soon we can see the second target 1.11477 .. weak dollar is pushing other currencies and commodities higher.. but chances of dollar getting strengthened can not be ruled out due to global recession