EURUSD → Bounce from 1.1200 before further growth

25 thg 9

EURUSD has been rallying since the beginning of the Asian session and is reaching the key resistance at 1.1200. The psychological level has quite a strong weight on the market and it will be difficult to break this area from the first time....



A rebound is forming on H4-H1. On D1, a rather wide range of 1.120 - 1.105 is forming in the market but after the price exits the descending wedge, which is a rather promising bullish premise. Due to the strong distribution to 1.1200 the market has no potential to break through this zone, accordingly, in the short (mid) term I expect a pullback or consolidation in the range 1.12 - 1.114 ( 1.111) and the subsequent retest of the upper boundary of the range with the aim of breaking through and further growth to 1.127 - 1.135.

Resistance levels: 1.120
Support levels: 1.114, 1.111

There is a huge pool of liquidity above 1.12, which will not allow buyers to overcome this obstacle so easily. We are waiting for a correction and a further breakdown, which will be followed by growth.

Rate, share your opinion and questions, let's discuss what's going on with ★ EURUSD ;)

Regards R. Linda!

25 thg 9

Giao dịch đang hoạt động

Resistance retest is formed (price enters the liquidity zone)

26 thg 9

Giao dịch đang hoạt động

That's great!
False break of resistance forms a correction to the liquidity zone.
We are waiting for the recovery phase to the resistance!

27 thg 9

Giao dịch đang hoạt động

Resistance retest after correction is formed