EURUSD will continue to fall

2020年11月3日

After a sharp fall and breaking through two resistance lines, the price fixed on one of them.
We keep the direction of the previous trade and expect a fall.

The weekly chart shows that this is a very strong resistance.
In July, the price already managed to break through these lines during a strong growth.
Now it happened in a downtrend.
And the fact that the price was able to break through this zone, as well as adjust to the line, may indicate the beginning of an imminent fall.

This is a good sell signal for us.
I expect the price to fall towards the historically strong support line - TP.

SL - resistance zone in the area of two lines.


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