Euro can break support level and drop to 1.0240 points in wedge
Hello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price a few moments ago declined inside the downward channel, where it broke the 1.0485 level, which coincided with the seller zone. Then price exited from the channel and continued to fall in a broadening wedge, and later reached a support level, which coincided with the buyer zone. Euro some time traded near and then started to grow to a resistance line of wedge. When the price reached this line, it turned around and started to decline. So, in a short time, the EUR declined to the 1.0345 support level, broke it, and declined to support line of the broadening wedge. But a not long time ago it turned around and rose to support level back. Also recently, the Euro broke this level and now trades very close, so, in my mind, the price can rise a little more, after which starts to decline. Firstly price can decline to the support level, break it, and make a retest, or at once continue to decline without retesting inside the broadening wedge. For this case, I set my TP at 1.0240 points. Please share this idea with your friends and click Boost 🚀
Trade active
Okay! EUR rose to the resistance line of a broadening wedge and started to decline. For this case, I think it will continue to fall to the support level. Then it can break it and continue to decline next:
Trade closed: target reached
NICE! Euro continued to fall and even broke the support level. So, for this case, I still waiting when it reaches my TP.
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