Short

Euro can drop to support level, leaving upward channel

Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some days ago made impulse up to the resistance line, but soon turned around and dropped to the support level, which coincided with the buyer zone, breaking the 1.0820 level. After this movement, the price rebounded from the buyer zone and tried to grow, but soon turned around and fell back to the buyer zone. Then the price rose to the resistance line, but at once fell back, after which turned around and started to grow inside the upward channel, where it soon broke the resistance line with the 1.0700 level. In the channel, the price made two gaps and also later broke the 1.0820 level, which coincided with the support area. Price some time traded near this level and then rebounded up to the resistance line of the upward channel. At the moment, the Euro continues to trades near this line, so, in my opinion, the price can rebound from the resistance line of the channel and start to decline to the current support level, thereby exiting from the upward channel. For this reason, my TP is 1.0820 support level. Please share this idea with your friends and click Boost 🚀

LegionQ8

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LegionQ8

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