Last week, due to US news,
the Euro broke the ceiling of the 4H channel and the resistance of 1.1200
and also broke the strong resistance (formed by the intersection of the static resistance of 1.1278 and two dynamic resistances,
which also included the monthly resistance)
and touched the resistance level of 1.1462
*Currently, the price is in the range zone
and I expect the price to play in this zone (as shown on the chart) for a while
And if the breakdown is not caused by the excitement of the market and fake news;
the price of 1.1278 will play the role of support and the price will rise
Otherwise, the price will decrease after playing in the zone for a while
We will be patient and go with the trend
(On the monthly and daily time frames, we see divergence and on the weekly time frame, we see saturation in buying)
* Be profitable
Thank you for expressing your opinion by liking and commenting
the Euro broke the ceiling of the 4H channel and the resistance of 1.1200
and also broke the strong resistance (formed by the intersection of the static resistance of 1.1278 and two dynamic resistances,
which also included the monthly resistance)
and touched the resistance level of 1.1462
*Currently, the price is in the range zone
and I expect the price to play in this zone (as shown on the chart) for a while
And if the breakdown is not caused by the excitement of the market and fake news;
the price of 1.1278 will play the role of support and the price will rise
Otherwise, the price will decrease after playing in the zone for a while
We will be patient and go with the trend
(On the monthly and daily time frames, we see divergence and on the weekly time frame, we see saturation in buying)
* Be profitable
Thank you for expressing your opinion by liking and commenting
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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.