EURO - Price will rise a little and then drop to $1.1500 points

Hi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊

Price earlier carved out a pennant pattern after a strong rally, with price oscillating between converging trendlines and indecision mounting near $1.1550 resistance.

After several weeks in consolidation, sellers finally broke down below the pennant base, sending price back toward the support area and trapping late buyers.

Buyers regrouped and launched a new advance, driving EUR into a well-defined rising channel.

During this channel run, two notable breakouts above interim highs were quickly followed by exits at the upper trendline.

Price now sits in a tight consolidation just under the rising channel’s ceiling near $1.1700, forming small corrective swings on lighter volume.

I expect one more shallow rally toward $1.1750 before sellers overwhelm buyers again, pushing Euro down through $1.1550 and toward the $1.1500 points.

If this post is useful to you, you can support me with like/boost and advice in comments❤️

Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.