#EURUSD 05 04 2021
Let me remind you that since the spring of 2020, the price has been moving in a global upward channel. In early January of this year, it came to the upper border of the global channel and pushed off from it at point 1.234. From that point on, the price fell, forming a smaller descending channel. During the fall in this channel, it came to the support zone of 1.170. In this zone, the support trend line and the support line of October 2019 intersect. The price has consolidated in the zone and now I expect it to start growing, break through the nearest resistance line at 1.189 and continue to grow. Thus, my final target is the resistance line at 1.217.
Let me remind you that since the spring of 2020, the price has been moving in a global upward channel. In early January of this year, it came to the upper border of the global channel and pushed off from it at point 1.234. From that point on, the price fell, forming a smaller descending channel. During the fall in this channel, it came to the support zone of 1.170. In this zone, the support trend line and the support line of October 2019 intersect. The price has consolidated in the zone and now I expect it to start growing, break through the nearest resistance line at 1.189 and continue to grow. Thus, my final target is the resistance line at 1.217.