Lingrid | EURUSD experiences CORRECTION After hitting Resistance

9 Sep

The price perfectly fulfilled my last idea. EURUSD formed a tweezer candle pattern on the weekly timeframe, signaling a potential reversal. This pattern suggests that the recent price action may have been a false breakout of the 1.1200. Since June, we've experienced a significant bullish movement, and it appears that the time for a correction has arrived. I anticipate a complex pullback, likely in the form of an ABC move, especially since the price has broken and closed below the key upward trendline that it has respected for the past two months. I believe the market may test levels below the psychological level of 1.1000. My target is support level at 1.09800

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻