EURUSD FALSE breakdown and FALL againThe price continues to move above the historically strong level of 1.197. After the breakout and consolidation on it, the level gave the price quite strong support, which was used to explain its current growth.
However, I am not inclined to expect strong jumps from the price in the near future, since it is in a zone of strong resistance - a line formed back in 2019.
Yesterday we expected that the price of the euro-dollar would fall immediately after touching this resistance line at 1.223, but at the end of yesterday and the beginning of this trading day, the price still increased minimally, having broken the line.
I am convinced that the breakout is false, as the price lacks really strong support for a strong growth. Moreover, the chart already shows how the price began to fall. I'm sure she will fall over the line. After that, it will gain a foothold on it and only after that will it still fall.
Thus, my final target is the support line at 1.206.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
