LegionQ8

Euro can make a little correction up and then continue to fall

Kort
FX:EURUSD   Euro / USA-dollar
Hello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price started to decline in a downward channel, broke the 1.0615 level, and fell until to 1.0505 level, and also soon broke this level too and delcine lower to the buyer zone. But soon price made an upward impulse from this zone to the resistance level, which coincided with the seller zone, thereby exiting from the downward channel. Also, the Euro started to trade in a triangle, where it first made a strong downward impulse to support line, breaking the 1.0505 level again, but soon Euro bounced from this line and started to rise. In a short time price rose to the resistance line, bounced down, and then caused a little gap, after which the Euro fell to the support line. Then price rebounded from this line and made a strong upward impulse higher than the 1.0615 resistance level and even the seller zone, thereby exiting from a triangle. But a not long time ago, the Euro fell below this level, making a fake breakout and now it continues to decline. Possibly price can make a little correction and then continue to decline to the 1.0505 support level, which is located at my target. Please share this idea with your friends and click Boost 🚀

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