💱EURUSD - Support ahead. 70% breakout / 30% rebound
EURUSD is directed towards the support of the sideways range. In the near future, the price may test the support of 1.08485, and further price reaction to the level will show the medium-term prospects
TA on the high timeframe:
1) False breakout of 1.09123 resistance is formed
2) Within the range and the local downtrend the price may go down to 1.07129.
TA on the low timeframe:
1) A retest of 1.08485 is forming
2) The price approach to the support is slow and consolidating, there is a high probability that the price will break this level and go down. The sell signal will be consolidation of the price below the level.
3) However, if a false break-down of the range support is formed, we might see the price increase to 1.08919 or 1.09705.
Key support📉: 1.08485
Key resistance📈: 1.08919
TA on the high timeframe:
1) False breakout of 1.09123 resistance is formed
2) Within the range and the local downtrend the price may go down to 1.07129.
TA on the low timeframe:
1) A retest of 1.08485 is forming
2) The price approach to the support is slow and consolidating, there is a high probability that the price will break this level and go down. The sell signal will be consolidation of the price below the level.
3) However, if a false break-down of the range support is formed, we might see the price increase to 1.08919 or 1.09705.
Key support📉: 1.08485
Key resistance📈: 1.08919
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