EURO - Price can bounce of resistance area and start to fall

[robinroy]

Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in the comments👊

When the price started inside from the rising channel, it broke $1.0830 level and reached $1.0925 point.

But then Euro started to decline and fell below support level, thereby exiting of channel.

Then price entered to triangle, where it started to grow, backed up, and reached $1.0975 point.

Next Euro bounced down, exited from triangle, and declined to support level which coincide with support line.

After this price made upward impulse to resistance area, thereby breaking $1.1010 level.

And later Euro declined to support line, but a not long time ago backed up and now trades close to area.

Possibly price bounce down from area, broke support level, and fall below support line to $1.0955

If this post is useful to you, you can support me with like/boost and advice in comments❤️

[Pauley1]

What time charts are you using for this as I can’t seem to find one that matches?

[ayodimej1]

That’s definitely 1HR

[ayodimej1]

It should be a short sell because price still on a strong bullish trend until break.

[Pauley1]

Thank you. Now I can see the pattern on the 1H chart, I just needed to zoom out a little!

It still looks quite bullish on the 1D chart

[Pauley1]

I actually think EURUSD will continue bullish further into the year and get back to 2021 levels before falling.

Do you think we have a new support level around 1.09600 set on 25th and then tested today?

[ayodimej1]

Actually, we might see a fall soon, i can count upto six rejections now at the supply area as seen in the picture below. But for now, it’s still a strong bullish trend.