InvestMate|EUR/USD Increases won't happen because I say so💶💵

💶💵EUR/USD Increases won't happen because I say so

💶💵As in the title.

💶💵After Jay Powell's statement yesterday on the gradual tapering of interest rate hikes, and the announcement of another hike of only 50 basis points that I wrote about in the previous post.

💶💵Looking at the euphoria that has emerged in the market over the past few days has driven prices upwards

💶💵 We can try to counter sentiment and continue the direction I wrote about previously

💶💵We are currently at a strong resistance zone. Determined by the fibo level of 0.382 of the entire downward wave from the 1992 peak to the 2000 bottom.

💶💵The nearest significant support zone is at a key location where the market has found support many times in the past.

💶💵It has been determined by a cluster of two fibo levels. The first is the 0.382 level of the entire current upward wave and the second is the 0.786 level of the entire upward wave from the 1985 low to the 1992 peak.

💶💵I do not yet rule out a possible fight at the current levels but sooner or later I expect a downward slide

💶💵The scenario I am playing out is a downward correction to levels around the support zone where I will watch to see how the price reacts. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

💶💵*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.

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