EURUSD: continues to form a new channel after a trend change

30 Mar 2021

As you remember yesterday, we looked at the price movement in the main channel, which has been moving since 2019. Now let's pay attention to the shorter movement since October 2020. At that time, the price bounced off the 1.162 support level and grew up to 1.234, where the trend was eventually broken. After that, the price began to fall, during which another downward channel was formed. During the movement in this channel, the price again approaches the support level, which served as a start for growth. But in the near future we can expect the price to move in the channel and rise to the resistance at 1.185.
SL - 1.162.

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