EURUSD → Price is in consolidation. Emphasis on false breakdown

24 Mar

EURUSD is forming a correction within the consolidation that was formed on the uptrend. The reason for the consolidation is the halt in the movement of the dollar index...



The dollar is forming a counter-trend correction due to political and econmoic data, but the general background is bearish. But, the fall of the dollar, to which the index may soon return, may strengthen the growth of the currency pair. EURUSD consolidation within the uptrend (against the background of the dollar index correction). The zone of interest is the support at 1.078 and the imbalance area

Resistance levels: 1.078, 1.074
Support levels: 1.0936.1.1009

The price has not tested the support and is forming a correction to the imbalance zone 1.087 - 1.09 from which the price may return to the downward movement to 1.078. The emphasis is on the range support from which we should wait for a false breakdown before further growth.

Regards R. Linda!

24 Mar

İşlem aktif

After the rebound, the price returns to the support
It is enough to wait for price entry under 1.078, retest of the liquidity zone and return to the range.
Price consolidation above 1.078 may provoke further growth