Euro can start to decline to almost support line of channel
Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some time ago reached the resistance level, which is located inside the seller zone, and soon broke this level. After this movement, the Euro a little rose, and then turned around, after which started to decline inside the downward channel. In the channel, the price soon broke the 1.0900 level and then some time traded near, after which bounced and dropped to the support line of the channel. After this, the Euro turned around from the support line and quickly rose almost to the resistance line of the channel, after which bounced and fell to the 1.0800 support level, which is located inside the buyer zone. Price some time traded near this level and then rebounded up to the resistance line of the channel again, after which turned around and made an impulse down, breaking the 1.0800 level. But soon, the EUR turned around and backed up to almost the resistance line of the downward channel, making a fake breakout of a support level. Now, I think that the price can rebound from the resistance line and start to decline to almost the support line of the downward channel, breaking the support level. For this reason, I set my TP at 1.0750 points, which coincided with the support line of the channel. Please share this idea with your friends and click Boost 🚀
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