EURUSD faces strong support and at the same time the preconditions for the formation of a wedge - a pattern that can reverse the local trend
Based on the price movement, volatility and moving averages, I can suggest that the price is in a strong consolidation phase and apparently the market is waiting for a kick in the form of fundamental factors, which will help the price to break out of this range.
I expect a rebound from the limit support level and a breakout of the descending wedge resistance. Short-term target is the liquidity area at 1.07662, medium-term target is the resistance at 1.09368.
Regards R.Linda!
Based on the price movement, volatility and moving averages, I can suggest that the price is in a strong consolidation phase and apparently the market is waiting for a kick in the form of fundamental factors, which will help the price to break out of this range.
I expect a rebound from the limit support level and a breakout of the descending wedge resistance. Short-term target is the liquidity area at 1.07662, medium-term target is the resistance at 1.09368.
Regards R.Linda!
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🌹TRADING is a CASINO💔!?
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.