Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
For a long time, the price was moving within a large ascending wedge, showing a gradual upward trend.
However, buyers failed to maintain momentum, and the price made a decisive breakout below the wedge's support line.
Following the breakout, the instrument established a new structure, a local falling channel, and has been trading within its boundaries since.
Currently, the price is in a corrective upward move, approaching the key resistance area of $1.1630 - $1.1660.
This zone is significant as it aligns with a previous support level and the upper boundary of the current falling channel.
I expect that the price will face rejection from this resistance area and will then continue its decline towards the channel's support line, targeting the $1.1465 level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
For a long time, the price was moving within a large ascending wedge, showing a gradual upward trend.
However, buyers failed to maintain momentum, and the price made a decisive breakout below the wedge's support line.
Following the breakout, the instrument established a new structure, a local falling channel, and has been trading within its boundaries since.
Currently, the price is in a corrective upward move, approaching the key resistance area of $1.1630 - $1.1660.
This zone is significant as it aligns with a previous support level and the upper boundary of the current falling channel.
I expect that the price will face rejection from this resistance area and will then continue its decline towards the channel's support line, targeting the $1.1465 level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔶 Free telegram channel👉 bit.ly/4fKXOY0
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
💎 ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.