EURUSD → Global reversal pattern and $ strengthening
EURUSD made an unsuccessful attempt to change the trend. Price breaks consolidation support and moves into the realization phase or distribution phase.
TA on a high timeframe:
1) The outlines of the global reversal pattern "head and shoulders" appear on the chart
2) If the support at 1.0844 is broken, the price may fall to 1.0700.
TA on the low timeframe:
1) The market continues to form a bearish trend
2) Price after an attempt to break the trend back into the descending channel
3) Consolidation of the price below 1.08746 will form a sell entry point
4) The market is preparing for a medium-term decline on the back of USD strengthening.
Key support📉: 1.08000
Key resistance📈: 1.08746
TA on a high timeframe:
1) The outlines of the global reversal pattern "head and shoulders" appear on the chart
2) If the support at 1.0844 is broken, the price may fall to 1.0700.
TA on the low timeframe:
1) The market continues to form a bearish trend
2) Price after an attempt to break the trend back into the descending channel
3) Consolidation of the price below 1.08746 will form a sell entry point
4) The market is preparing for a medium-term decline on the back of USD strengthening.
Key support📉: 1.08000
Key resistance📈: 1.08746
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