EURO - Price can exit of pennant and then fall to support level
Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
A not long time ago price bounced from resistance level, which coincided with resistance area, and started to decline in falling channel.
In channel, EUR fell to $1.0780 support level, which coincided with support area and even declined lower there to support line.
But soon, price bounced from support line of channel and in a short time rose back and also soon exited from channel.
After channel, Euro started to rise in pennant, where reached $1.0980 level and tried to break it, but failed.
Price fell to support line of pennant, thereby making fake breakout and now it trades near this line.
Possibly Euro can break this line, exit from pennant, and then decline to $1.0780 support level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
A not long time ago price bounced from resistance level, which coincided with resistance area, and started to decline in falling channel.
In channel, EUR fell to $1.0780 support level, which coincided with support area and even declined lower there to support line.
But soon, price bounced from support line of channel and in a short time rose back and also soon exited from channel.
After channel, Euro started to rise in pennant, where reached $1.0980 level and tried to break it, but failed.
Price fell to support line of pennant, thereby making fake breakout and now it trades near this line.
Possibly Euro can break this line, exit from pennant, and then decline to $1.0780 support level.
If this post is useful to you, you can support me with like/boost and advice in comments❤️