EURUSD: return to strong level - breakout or bounce?
Over the past year, the price was able to rise and break through the historically strong level of 1.161. after which it continued to grow in the trend (from March 2020) and eventually came to the moment of the trend breakdown at point 1.234. After that, in the fall, the price formed a channel. During the fall in this channel, the price broke through the main trend line - 1.190 and is now at the support of the 1.170 channel. We can expect that the price will consolidate in the support zone - the crossing of the line and the level of 1.161. Then it will rise to the resistance at 1.175.
SL - 1.155.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
SL - 1.155.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
Penafian
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