Euro can make a little movement up and then bounce down

٢٢ يونيو ٢٠٢٣

Hello traders, I want share with you my opinion about Euro. By observing the chart, we can see that a few days ago the price started to fall inside a downward channel. In the channel, price broke the support area and current support level and continue to fall to the buyer zone, thereby making a fake breakout of 1.0680 support level. After the fake breakout, Euro at once bounced up, exiting from a channel and tried to rise to support area, but failed and fell to support level. Next, price bounced up from support level, and made strong upward impulse to support area, which coincide with current support level. After these movements, Euro continues to rise to resistance level, and now it trades close to this level. Possibly, price can reach resistance level, then bounce of this level and start to decline. Therefore I set up two targets, first target at 1.0960 level and the second - 1.0900 level. Please share this idea with your friends and click Boost 🚀