EURGBP FINALLY A SHORT TRADEOn this pair, I have noticed that the price, after a bullish run, has started to bounce on a demand zone that has been present since March. My goal will be to wait for a price retracement within a mini supply zone that I have highlighted in red called POI and then set a short trade.
Let me know what you think.
Have a nice trading!
Forex48 Academy
Sollar
DOLLAR reversal at SUPPORT line and GROWTHIn early April, the price bounced off the resistance line 93.42 - the upper border of the uptrend that had existed since the beginning of the year. After that, the price reversed and started falling, during which it broke through the 92.23 line and left the trend. Further, the price broke through the resistance line at 91.67. This line has been on the chart since December 2020. The fall in price stopped at the support of 90.76.
This line of support was also formed in December last year and I expect the price to turn up from it. You can already see how the price bounced off the line. I expect it to rise to the 91.84 resistance. This will be our goal.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
⚠️ DOLLAR second breakout - false / GrowthThe price has been trending since December 2020.
During the growth, it came to the resistance at 93.37.
Then it turned around, broke through the trend border - support 92.02.
And it fell to support at 91.13.
This is the reference line for July 2020.
The price made two false breakouts of this line in the last week.
I expect her to punch it during the 91.11 growth.
Will continue to grow and come to resistance.
The goal is 92.13.
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DOLLAR GROWTH after trend breaksownSince the beginning of the year, the price has been moving in an upward trend from the support level of 89.19. However, in early April, the price came to the strong resistance zone 93.12, where the historically strong level and the 2016 resistance line intersect.
From this point, the price reversed and began to fall. In the course of the fall, the price was able to break through the resistance line - at that moment of support - 92.25. Left the trend and eventually stopped at the January 2021 support line at 91.58. I expect that from this point the price will start a new rise and come to the resistance line 92.65.
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
DOLLAR GROWTH from strong SUPPORT zone to resistanceAt the beginning of the year, the price bounced off the support line at 89.27 and from that moment an ascending channel began to form. Moving in the channel, the price could even break through the strong support line at 91.42. Then it rose to the resistance of 92.51 and fell again to support.
Now the price is in the strong zone at 91.37. In this zone, the support trend line and the strong line of July 2020 intersect. The price has already bounced off the zone and started to rise, so I expect it to continue to rise and touch the resistance zone at 92.51.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
DOLLAR FALL after false breakoutIn early December, the price broke through the support line at 91.68. This is a strong line that has been on the chart since 2019. At the same time, for the last half of the year, it has acted as a guide for the downtrend. After the breakdown of this line, the price continued to fall, broke through the resistance line 90.63, but eventually came to the support line at 89.73.
An ascending channel began to form from this point in the middle of December last year. While moving in this channel, the price managed to break through the 2019 support line once again, this time during the growth - 90.59.
The other day, the price came to the upper border of the channel - the resistance line at 91.09 and broke through it, however, I am convinced that this breakdown is false. I expect that in the near future the price will return to the channel, it will take advantage of the resistance and fall to the lower border of the channel. So my final target is support area 90.31.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻