EURUSD is forming a bearish trend amid a fundamentally strong dollar index, which is in a bullish rally phase, which is generally negative for the euro. Price broke a strong support line earlier on the global timeframe. Consolidation is formed below the line, which in general determines for us a medium-term perspective, the target of which may be 1.052, behind which there is a huge pool of liquidity.
On H1 the price is forming a sideways flat and before a further fall there may be a retest of the resistance in order to capture liquidity.
Resistance levels: 1.0700
Support levels: 1.0600
Technically, before further decline the price may test the resistance of the range on the background of stopping the growth of the dollar, but in general, there are no reasons for a change of trend and accordingly, with a high degree of probability, the decline may continue.
Regards R. Linda!
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A reversal pattern is formed within the framework of correction
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🌹TRADING is a CASINO💔!?
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🟢Telegram Channel: t.me/RLindaTrade
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Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
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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.