HelenP. I Euro can break resistance level and continue grow

Hi folks today I'm prepared for you Euro analytics. Looking at the chart, we can see that the price broke through the support level, which aligned with the support zone, and then started to rise. Soon after, it reached the resistance level, which also coincided with a resistance zone, and even managed to break above it, attempting to push higher. However, the momentum faded, and the price reversed, beginning a decline. In a short time, it dropped below the 1.0470 level, breaking through it and forming a strong gap. The price continued to fall, moving below the 1.0315 support level and reaching the trend line. From there, it started to rise again, moving within an upward channel. Inside the channel, the Euro broke back above the 1.0315 level and climbed toward the resistance line. However, before making a fake breakout, it pulled back to the support level, briefly touching the trend line before continuing its upward movement within the channel. Later, the price reached the resistance zone, reversed, and made a small correction. After that, it attempted another move back toward the resistance zone, but recently, it has fallen below it and is now trading very close to this level. In my view, the price may drop to the trend line, which serves as the channel’s support, and then rebound higher, breaking above the resistance level. If that happens, I expect EURUSD to continue its upward movement, so I’ve set my goal at 1.0540. If you like my analytics you may support me with your like/comment ❤️

FirstNameHelen

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FirstNameHelen

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