EURUSD continues growth in channel

22 déc. 2020

In early 2020, the eurodollar began to rise in a global uptrend.

In November, the price touched the lower line of this trend - the support line at 1.160.
And it began to grow towards the line of resistance.
This movement formed local support and resistance lines (a small upward channel).
Several weeks ago, it broke through the support line at 1.205.
And now it moves along it.
However, I expect that the price will soon come to the resistance line of the older channel.
I expect the price to: first go down to the support zone (intersection of two lines) 1.213 and break it.
Then it will push off, break through the support line this time during the growth.
Will grow to the resistance line (upper channel line).
The target is 1.239.

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