Since May, the price of this pair has been in a powerful uptrend, which is controlled by two lines: support and resistance, which are strong enough to prevent significant breakouts.
However, at the beginning of December, the price dropped sharply beyond the support line, after which it took advantage of the local support and began to rise again from the point 1.317.
During the growth, it broke through the support, fixed on it and reached the resistance line - the movement was impressive, which brought the price back into the trend and now it is at the resistance trend line 1.357.
As it is already clear on the chart, the price bounced off this line and began to fall. Well, I am convinced that it will continue to fall and eventually come back to the uptrend support line.
So the final target that I expect is the 1.346 support line.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
However, at the beginning of December, the price dropped sharply beyond the support line, after which it took advantage of the local support and began to rise again from the point 1.317.
During the growth, it broke through the support, fixed on it and reached the resistance line - the movement was impressive, which brought the price back into the trend and now it is at the resistance trend line 1.357.
As it is already clear on the chart, the price bounced off this line and began to fall. Well, I am convinced that it will continue to fall and eventually come back to the uptrend support line.
So the final target that I expect is the 1.346 support line.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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 FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.