Lingrid | EURUSD weekly RESISTANCE zone. Short

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EURUSD has experienced a short-term pullback and then proceeded to make higher highs and higher closes. The market has broken through the previous day's high while moving upward to test the psychological level at 1.12000. This level is significant as it's the same zone where the market declined sharply last year in July. Currently, the price has reached the upper border of the channel, forming a 1-2-3 extension and exhibiting a bearish divergence. Given these factors, I anticipate a potential fake breakout at the channel border, which aligns with the highs of 2023. Therefore, I expect a pullback from this channel border, coinciding with weekly resistance levels. My target is the support level around 1.10820


Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

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Pecfectly played out