The trendline shown in the chart has continued to offer significant resistance for the past few weeks now. Furthermore, there is strong support that I also highlighted in the chart. Between the two regions is the area of value, and if the chart shows anything, it is that the EURUSD will continue to slide down further. My bet? Go short!
PS: Beware of a possible false breakout as the patterns are soon to merge, meaning that the EURUSD will break out immensely. From the looks of it, it would go further down, but that's a discussion for a later time.
PS: Beware of a possible false breakout as the patterns are soon to merge, meaning that the EURUSD will break out immensely. From the looks of it, it would go further down, but that's a discussion for a later time.
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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.