EURUSD will grow at channel crossings
The price movement fits into two intersecting trends. Both are ascending.
The first channel was formed in July and the price moved in it without breakdowns until September.
Then the price broke through the support line of this channel (1.179) and moved outside of its limits.
The second channel was formed precisely in this movement (since October this year).
The crossover of the channels started after the growth broke the support line (1.194).
It recently came across trend lines (resistance) at 1.217 and, as expected, began to fall.
Now I expect the price to move in several steps.
1. The price will fall to the support zone (intersection of trend lines) around 1.198.
2. Through a series of pullbacks and corrections, the price will rise to the resistance line 1.221.
This is the goal.
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Thank you for your support!
The first channel was formed in July and the price moved in it without breakdowns until September.
Then the price broke through the support line of this channel (1.179) and moved outside of its limits.
The second channel was formed precisely in this movement (since October this year).
The crossover of the channels started after the growth broke the support line (1.194).
It recently came across trend lines (resistance) at 1.217 and, as expected, began to fall.
Now I expect the price to move in several steps.
1. The price will fall to the support zone (intersection of trend lines) around 1.198.
2. Through a series of pullbacks and corrections, the price will rise to the resistance line 1.221.
This is the goal.
-----------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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