Hi Traders, Looking at the EURUSD chart, we can see that it has formed a descending channel.
And it’s currently at the support zone of the channel! So we have the green descending trendline for confirmation, that is, if it breaks this trendline we expect it to move up to the purple trendline.
The purple trendline will act as a stronger resistance zone/point so might take more time for a break to happen.
If the break eventually happens, The partial TP zone will be our next target and focus!
And it’s currently at the support zone of the channel! So we have the green descending trendline for confirmation, that is, if it breaks this trendline we expect it to move up to the purple trendline.
The purple trendline will act as a stronger resistance zone/point so might take more time for a break to happen.
If the break eventually happens, The partial TP zone will be our next target and focus!