RLinda ! EURUSD-> Growth from the limit zone 0.99000
EURUSD. On the chart we have a global bearish trend. I also marked a local movement inside the channel, after an upward correction and an attempted breakout of trend resistance, which was false, the price falls to 0.99.
I marked a local downtrend channel that started to form after the upward correction and went down to the 0.99000 limit zone, which price failed to break. The price is being bought out and today we are breaking through the resistance of the local channel. The price is testing the resistance of 1.0000, not a deep pullback and a new retest of 1.0000 is forming.
I assume that after the two-week consolidation between 1.0000-0.9900 zone, the price forms a distributive movement upwards. I think that in the nearest future we will see a break-down of 1.0000 and possible rise of the price to the upper border of the descending channel.
Regards R. Linda!
I marked a local downtrend channel that started to form after the upward correction and went down to the 0.99000 limit zone, which price failed to break. The price is being bought out and today we are breaking through the resistance of the local channel. The price is testing the resistance of 1.0000, not a deep pullback and a new retest of 1.0000 is forming.
I assume that after the two-week consolidation between 1.0000-0.9900 zone, the price forms a distributive movement upwards. I think that in the nearest future we will see a break-down of 1.0000 and possible rise of the price to the upper border of the descending channel.
Regards R. Linda!
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