EURUSD touch resistance line and start falling
In one of my previous forecasts, I described the yen movement algorithm in this pair.
After several rising waves, there should invariably be a decline and the price is still in the process of forming a second falling wave.
After a very strong impulse from the support line, the price increased rapidly and by the beginning of July began to form a channel.
This is a direct channel in which the price has been moving for the last almost six months.
Upper channel line - the resistance line was broken by the price several times, but the price always fell within the channel.
Now, recently, the price touched the resistance line again.
And now it is clear that it has already begun to fall
Therefore, I expect that the fall will continue and the price will come to the support line (lower channel line) 1.170, where it is crossed by a strong support line.
Target - 1.170.
-------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
After several rising waves, there should invariably be a decline and the price is still in the process of forming a second falling wave.
After a very strong impulse from the support line, the price increased rapidly and by the beginning of July began to form a channel.
This is a direct channel in which the price has been moving for the last almost six months.
Upper channel line - the resistance line was broken by the price several times, but the price always fell within the channel.
Now, recently, the price touched the resistance line again.
And now it is clear that it has already begun to fall
Therefore, I expect that the fall will continue and the price will come to the support line (lower channel line) 1.170, where it is crossed by a strong support line.
Target - 1.170.
-------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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