From the daily time frame, we can see that EURUSD has broken a structure which was acting as previous resistance turned support, which is indicated with a blue rectangle.
I'm anticipating the broken support to turn to resistance when the price action retraces from somewhere at the demand zone which is indicated with a red rectangle.
So let's have in back of our mind that price will need to retrace from the low to retest the broken structure and turn into resistance and then after continue to the downside.
......................,.................,......................
Please share your thoughts,what do you think,will EURUSD move downwards or will it be buy the dip and continue with its uptrend.
I'm anticipating the broken support to turn to resistance when the price action retraces from somewhere at the demand zone which is indicated with a red rectangle.
So let's have in back of our mind that price will need to retrace from the low to retest the broken structure and turn into resistance and then after continue to the downside.
......................,.................,......................
Please share your thoughts,what do you think,will EURUSD move downwards or will it be buy the dip and continue with its uptrend.
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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.