EURUSD, will it come back down for a retracement?
As per previous analysis, price has finally moved out of the previous range and also retested the descending trendline with a strong bullish impulse move.
Using a parallel channel as a guideline, price is currently sitting on the upper resistance, potentially turning support.
It is possible that price can retrace towards the lower support of the parallel channel, where the previous resistance can act as support as well, and potentially take a low risk, high reward, high probability trade to long
Using a parallel channel as a guideline, price is currently sitting on the upper resistance, potentially turning support.
It is possible that price can retrace towards the lower support of the parallel channel, where the previous resistance can act as support as well, and potentially take a low risk, high reward, high probability trade to long
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