🇪🇺 EURUSD 🇺🇸 - Trend continuation pattern. Growth

1 mar

The currency pair broke the resistance of the descending channel a few weeks ago, but after the breakout a consolidation is formed, which in this context can be perceived as a trend continuation pattern. In our case, a trend change is forming, which means we should wait for the continuation of the upward movement. Against the background of a possible fall of the dollar index, the chances of the idea are quite high.

Reasons for further growth:

1) Breakdown of the descending channel
2) Failure of local structure and consolidation formation
3) There is no fall after the break of the channel resistance
4) Consolidation may turn into distribution after false break of support