Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in commentsđź‘Š
A not long time ago price moved inside a falling channel and showed weak activity with limited growth attempts.
Later Euro made a breakout, exited the channel, and started to form a new bullish structure near resistance.
After that, price made a sharp upward impulse, touching $1.1010 resistance and forming a pennant pattern.
Recently, it broke the lower border of pennant and tested $1.0990 level from below, then bounced down.
Now price trades under local resistance area and holds below broken trendline with weak upward attempts.
In my opinion, Euro can continue to decline and reach $1.0850 support level in the upcoming sessions.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
A not long time ago price moved inside a falling channel and showed weak activity with limited growth attempts.
Later Euro made a breakout, exited the channel, and started to form a new bullish structure near resistance.
After that, price made a sharp upward impulse, touching $1.1010 resistance and forming a pennant pattern.
Recently, it broke the lower border of pennant and tested $1.0990 level from below, then bounced down.
Now price trades under local resistance area and holds below broken trendline with weak upward attempts.
In my opinion, Euro can continue to decline and reach $1.0850 support level in the upcoming sessions.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Trade active
Price declined to support line of pennant, where it continues to trades close. In my mind, it can exit from this pattern and then continue to decline to my target.Trade closed: target reached
Euro exit from pennant, but at the moment price started to trade in flat. I think that it can soon rise to resistance level and then fall to my target.
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🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
đź’Ž 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
đź’Ž 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.