HelenP. I Euro will drop to trend line, after movement up

Hi folks today I'm prepared for you Euro analytics. If we look at the chart, we can see that EURUSD has been moving in a stable upward trend, supported by a clear ascending trend line. Each time the price approached this line, it rebounded and continued to grow, respecting the bullish structure. After the recent breakout from the support zone around 1.1500, the market made a strong impulse to the upside and reached a local high. Now, the momentum seems to be slowing down, which opens the possibility for a corrective movement. Given this setup, I expect that the price could first make a small upward push to trap late buyers, and then turn around to begin a decline. The trend line remains a critical technical level, and I anticipate the price will revisit it soon. For this reason, I’ve placed my goal at 1.1575 points — this area aligns with the trend line and can serve as the next support if a pullback occurs. As long as this level holds, the market remains in a bullish structure, but a correction seems likely before further growth. If you like my analytics you may support me with your like/comment.

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FirstNameHelen

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FirstNameHelen

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