EURUSD → Pending a breakout of resistance for FX:EURUSD by RLinda

EURUSD → Pending a breakout of resistance

is trying to take a chance amid the dollar correction. The price is forming a retest of consolidation resistance for a breakout and further growth

After an attempt to break the downtrend resistance, the price moves into consolidation and forms a range of 1.053 - 1.021. Inside this set-up a local channel (consolidation) is formed and the price tests the resistance at 1.038. The market is still trying to confirm the change of trend and get stronger on the background of the dollar correction.
The fundamental background is complicated due to the tariff war and economic crisis....

Resistance levels: 1.038, 1.053
Support levels: 1.033, 1.021

A breakthrough of the resistance at 1.038 and price consolidation above this area may trigger further growth within the distribution of the accumulated potential

Regards R. Linda!

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RLinda

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