EURUSD FALL after correction

١٩ يناير ٢٠٢١

The price is moving in line with the target I voiced yesterday.

After breaking through the resistance line 1.215, the price continued to fall, but now it is making the first steps of corrective movement in the direction of the line, which gives reason to expect that the price will consolidate at the resistance line before continuing to fall.

I am convinced of the decline as it started from the strong resistance line at 1.233, the upper border of the rising channel, which began to form back in February 2020.

After touching the line, the price collapsed and sequentially broke through the resistance level 1.221 and the resistance line 1.214 - these are two more reasons supporting the fall.

Therefore, now I extend my previous forecast and expect that the first thing the price will touch the resistance line 1.218, thereby fixing on it. And then it will fall to the 1.195 support line.

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