InvestMate 💶💵 EUR/USD Bounces Off Strong Resistance Zone 💶💵

4 feb 2023

💶💵 EUR/USD Bounces Off Strong Resistance Zone

💶💵 Nearest strong support zone: around the 0.382 fibo level of the downward wave.

💶💵 Nearest strong resistance zone: around recent highs.

💶💵 Technical environment:

📊 Moving averages: Uptrend

📊 MACD: Downtrend

📊 RSI: Downtrend

💶💵 EUR/USD End fell bouncing off the strong resistance zone of the fibo 0.5 level of the entire downward wave. Looking at the strength of the declines in recent days and the willingness to execute a downward correction, I expect the downward trend to continue at least until it falls near the strong support levels marked on the chart.

📉 The scenario I am playing out is a continuation of the downward movement. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

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5 feb 2023

Nota