EURUSD is testing the local channel support. The probability of a breakout attempt is quite high, as the currency pair is trading on a negative fundamental background. The dollar is strengthening after a wave of positive news, at the same time EURUSD is hitting a strong resistance at 1.0949 on D1. A bearish candlestick is being formed with the session closing at the low point. Based on the candlestick pattern on Thursday, we can assume that the negative fundamental background is favorable for further decline, and the market is not finished moving yet. Consolidation below 1.08975 and breakout of 1.0880 will form a potential for further fall.
The zones of 1.07958 and 1.0724 could become a target
Support levels: 1.0880
Resistance levels: 1.08975
I expect a retest of resistance followed by a breakout of support. The market is trying to change the local trend and with a high probability it can do it
Regards R. Linda!
Trade active
Friday's session is low-volatilityPrice closes near support
Trade active
Consolidation in the support area is a kind of struggle between buyers and sellers. Buyers lose, momentum is formed and liquidation takes place. Sellers are pushing the targetTrade active
The currency pair continues to decline as the dollar index rises
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🌹TRADING is a CASINO💔!?
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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
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢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.