💱EURUSD - Consolidation is being formed for support breakout
EURUSD on the background of a quick retest breaks the key support and forms consolidation. A potential is formed, within the framework of the realization of which the price can quickly reach 1.0536
TA on the high timeframe:
1) Strong bearish trend continues
2) A retest of the support at 1.0635 breaks the level
3) Price opens a corridor to fall to 1.0536
TA on low timeframe:
1) Pre-breakdown consolidation is formed
2) The market enters the phase of realization of accumulation after breaking the support at 1.0635.
3) Consolidation of the price below the level will form a sell entry point
4) After the FED news, the currency pair may fall to 1.0536 after breaking 1.06350.
Key support📉: 1.06350, 1.0617
Key resistance📈: 1.0642, 1.0664
TA on the high timeframe:
1) Strong bearish trend continues
2) A retest of the support at 1.0635 breaks the level
3) Price opens a corridor to fall to 1.0536
TA on low timeframe:
1) Pre-breakdown consolidation is formed
2) The market enters the phase of realization of accumulation after breaking the support at 1.0635.
3) Consolidation of the price below the level will form a sell entry point
4) After the FED news, the currency pair may fall to 1.0536 after breaking 1.06350.
Key support📉: 1.06350, 1.0617
Key resistance📈: 1.0642, 1.0664
Note
❤️ Telegram channel: t.me/AndeWave
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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.