EURUSD go down to SUPPORT zone and resume GROWTH

Since October 2019, the price has been moving in an upward channel with minimal breakouts. However, in January of this year, it came to the resistance zone of 1.238 at the intersection of the resistance lines of the two channels and began to fall. During the fall, a younger downward channel was formed, which continues to this day.

Falling in this channel, the price broke through the resistance line - the border of the older ascending channel - 1.198. Then she continued to fall. Now it is at the support line at 1.176. This is the lower boundary of the lower channel. Last week, the price bounced off it and showed a slight increase, but I expect it to fall again after that. The price will continue falling in the channel and will touch the strong support zone at 1.168 twice. In this zone, the level, the channel support line and the March 2020 support line intersect.

I expect that after touching the support zone, the price will rise again to the resistance line of 1.190. This will be our goal.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻