EURUSD → The triple top is in the 1.1200 zone. Falling?

2 Okt

EURUSD is facing strong resistance forming a reversal pattern relative to the 1.1200 sideways range boundary. The bulls are not yet able to continue the trend. The dollar is bouncing....



On the back of unpredictable economic data confirming the problems in the US economy (manufacturing, banking sector), the markets are rebounding. DXY strengthens after the market held 100.0 support.
EURUSD reverses course amid sentiment changes. Price forms a triple top reversal pattern and faces a strong sell-off, within which breaks trend support. In the short-term, we may catch a correction to the imbalance zone (with the aim of retesting the previously broken channel boundary), after which the decline may continue to 1.100, 1.095, 1.089.

Resistance levels: 1.11, 1.1125, 1.115
Support levels: 1.107, 1.104, 1.100

ADP NonFarm ahead and before the news, the market may quiet down and form a correction. In case of EURUSD, the zone of interest is 1.11 - 1.113. The fall may resume from these zones....

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

Regards R. Linda!

5 Okt

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