💱EURUSD - A correction signal is generated
EURUSD is forming a local false breakout. The base of the pattern "double bottom" is the level of 1.049 and we see a breakout (return) of this line. In the near future a correction may be formed after which the local growth will continue. But we should not forget - the global trend is bearish
TA on the high timeframe:
TA on the low timeframe:
Key support📉: 1.0490
Key resistance📈: 1.0560, 1.05900
TA on the high timeframe:
- False breakout of resistance. If the price returns beyond 1.0536 a strong rebound will be formed
- The liquidity area interesting for the market appears - 1.06000
TA on the low timeframe:
- False breakout will form an imulse.
- A correction back to support may be formed, which will form an entry point
- Buy entry point could be 1.0490, 1.0499.
Key support📉: 1.0490
Key resistance📈: 1.0560, 1.05900
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❤️ Telegram channel: t.me/AndeWave
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.