Euro can reach resistance level, break it and continue to grow
495
Hello traders, I want share with you my opinion about Euro. A few days ago, the price entered a wedge pattern, where it immediately rebounded from the support line into the seller's zone. It then started to decline, quickly dropping to the 1.0355 support level, which aligned with the buyer's zone. Following this, the Euro experienced a sharp gap down, breaking out of the wedge and falling below the support level. However, it soon reversed direction and began to rise, reaching the support level again and breaking through it. After that, the Euro continued moving upward within the range formed by the resistance and support lines. It first corrected to the support line before making a strong push toward the support-turned-resistance level. After breaking it and completing a retest, the price climbed further to the resistance line. From there, it briefly pulled back before making another upward move, reaching the seller's zone, which coincided with a key resistance level. The price consolidated near this level for some time before dropping to the support line. However, not long ago, it rebounded and started to rise again. In this scenario, I expect the price to continue its upward movement toward the resistance level. If it manages to break through, a retest could follow before further growth. Based on this, I have set my TP at 1.0580. Please share this idea with your friends and click Boost 🚀
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.