The price continues to fall in the course of a long downtrend, which began a new round in July this year. At the same time, a resistance line was formed on the chart, which became a guide line for the trend, preventing the price from rising higher.
During the fall, the price came to the level of 104.02. Since November, she tried to break through this level and go down beyond it, but most of the breakouts were false. The only really serious one happened during the US elections.
However, in mid-December the price still managed to break through the level and go down to the support zone of 103.46. This zone originates just at the November low. This time, the price moved in front of the zone for some time, broke through it during the fall. Then, again during growth. And now it is above the support zone.
Since the zone provides a good impetus for growth, I expect the price to rise. However, I don't think it will be able to break through the resistance level. Therefore, I expect such a goal. First, the price will rise to the resistance line since June of this year at 104.18, then it will bounce off, break through the level and fall to support 103.46.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
During the fall, the price came to the level of 104.02. Since November, she tried to break through this level and go down beyond it, but most of the breakouts were false. The only really serious one happened during the US elections.
However, in mid-December the price still managed to break through the level and go down to the support zone of 103.46. This zone originates just at the November low. This time, the price moved in front of the zone for some time, broke through it during the fall. Then, again during growth. And now it is above the support zone.
Since the zone provides a good impetus for growth, I expect the price to rise. However, I don't think it will be able to break through the resistance level. Therefore, I expect such a goal. First, the price will rise to the resistance line since June of this year at 104.18, then it will bounce off, break through the level and fall to support 103.46.
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.