Euro can make small move up, turn around and start to decline

6 thg 5

Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some days ago started to trades inside the downward channel, where it at once rebounded from the support line and then started to decline. In a short time price fell to the resistance level, which coincided with the seller zone, some time traded near and then broke the 1.0870 level and continued to decline. Later price fell to the support line of the channel and then made an impulse up to the resistance level, thereby exiting from the channel and some time trading near the 1.0870 level. After this, the Euro entered to seller zone, where it turned around and started to trades in a triangle. In this pattern, the price fell to the support line from the resistance line, breaking the 1.0655 support level, which coincided with the buyer zone, but in a short time later, the EUR broke this level again and continued to grow. Soon, the price reached a resistance line and broke it, exiting from the triangle pattern, and at the moment, the Euro continues to rise. I think that the price can rise a little and then the Euro will decline to support line, therefore I set my target at 1.0700 points. Please share this idea with your friends and click Boost 🚀