Euro can reach resistance level and then rebound down
Hello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price some days ago rebounded from the seller zone, which coincided with the resistance level and rose to 1.0940 points, after which it started to decline inside the pennant pattern. In this pattern, EUR broke the 1.0850 level and fell to the support line, after which at once rebounded and rose to the resistance line of the pennant. Soon, the price exited from this pattern and entered to seller zone, where the Euro some time traded and soon made a downward impulse. price broke 1.0850 and 1.0650 levels, and also later started to grow inside the wedge. In the wedge, the price soon broke the 1.0650 level, which coincided with the buyer zone and continued to move up. But later it made a correction move to the support line of the wedge, after which rebounded and rose until to the resistance line. When the price reached this line, it made a small correction move, after which at once backed up, and now it trying to exit from the wedge. So, in my opinion, the Euro, after exiting from the wedge can reach a resistance level and then the price will rebound down. For this reason, I set my target at 1.0750 points. Please share this idea with your friends and click Boost 🚀
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