EURUSD FALL after touch RESISTANCE level
My last forecast went half way to its target, bringing us 50 pips profit. And then, the price started to rise again and is now approaching the resistance level of 1.205
At the end of November, the price bounced off the support line around 1.160 and this gave a very tangible impulse for growth.
This is a strong support line since July 2019
As you can see, over the past few days, the price has grown strongly from this line and is now close to the strong resistance level of 1.205. And I am sure that the price will go up to this level. However, she will not be able to pierce it. The level will provide enough resistance to reverse the price. As a result, I expect it to fall back to the 1.172 support line.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
At the end of November, the price bounced off the support line around 1.160 and this gave a very tangible impulse for growth.
This is a strong support line since July 2019
As you can see, over the past few days, the price has grown strongly from this line and is now close to the strong resistance level of 1.205. And I am sure that the price will go up to this level. However, she will not be able to pierce it. The level will provide enough resistance to reverse the price. As a result, I expect it to fall back to the 1.172 support line.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
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