EURUSD → A false breakout leads to a correction. 1.080?

2024年5月17日

EURUSD is forming a correction after a false breakdown. The movement is formed after updating the local highs. The fundamental background for the currency pair is positive.



The false breakout occurs against the resistance at 1.0885, as well as the rising line limiting the trend. If the fundamental background persists, in this case the correction will not last long and the global bullish movement may start to recover. On H1 it is worth paying attention to the support: 1,080 (liquidity area), which the price may test. This boundary may become the lower zone of the new range, which may confirm the change of trend.

Support levels: 1.080, 1.0766, 1.0736
Resistance levels: 1.0884, 1.0942

Technically, a false breakdown of resistance and corrective downward movement is forming. Today there is no strong news and movements can be calm.

Regards, R. Linda!

2024年5月29日

交易結束：目標達成