Euro can reach resistance line of channel and make correction

5 days ago

Hello traders, I want share with you my opinion about Euro. Previously, price was trading inside a downward channel, gradually declining from the resistance line while forming a series of lower highs and lower lows. During that phase, sellers were clearly in control, and every attempt to grow was met with pressure near the channel’s upper boundary. However, that trend shifted once the price broke through the resistance line, confirming the end of the bearish momentum and the start of a new upward structure. After the breakout, EUR entered an upward channel, supported by multiple bullish impulses and consistent reactions near the support line. Price continued to rise, pushing through the support area and current support level around 1.1420. This upward movement showed strong bullish conviction, especially after the clean breakout and consolidation inside the channel body. Now the pair has approached the resistance line of the rising channel, where previous impulses typically slowed down or reversed. Given the channel geometry and past market behavior, I expect Euro to react to this upper boundary and move downward. For this reason, I set my TP at 1.1325, which aligns with the support line of the upward channel. Please share this idea with your friends and click Boost 🚀

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4 days ago

Trade active

Good, price continued to decline, I think it will soon reach my goal.

3 days ago

Trade closed: target reached

I think Euro can drop to my target on Monday. 🤔

LegionQ8

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LegionQ8

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