WILL EURUSD REACH THE MONTHLY SUPPORT? DETAILED ANALYSIS
Dear traders,
EURUSD is pretty interesting. The overall structure of EURUSD from a monthly perspective is bearish. And there is a strong monthly support at around 1.05160 which is the most closest support away from the price and the strongest one too. That support is the bottom line of a descending triangle on the monthly chart from where price should go to the resistance line. Going on the weekly chart, we can clearly see the price action. We can clearly see the nice downtrend. We can also see that the price has made a fake breakout to the upside in a descending channel. The price also broke below the 100 EMA and rejected the 200 EMA and started going down. Will it reach the monthly support at around 1.05160? Good luck everyone with your trading!
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Guys if you like my ideas, please drop a like and follow me if u like my trades. Post comments about your idea too. We can manage the trade together.
__________________________________________________________________________________________________________________________________________________
DISCLAIMER:
__________
This is just my personal opinion. Every trader is independent. Every trader has the freedom to place a trade in any direction.
Thank you for your support,
FX Specialist
Contact me for account management and vip signals
EURUSD is pretty interesting. The overall structure of EURUSD from a monthly perspective is bearish. And there is a strong monthly support at around 1.05160 which is the most closest support away from the price and the strongest one too. That support is the bottom line of a descending triangle on the monthly chart from where price should go to the resistance line. Going on the weekly chart, we can clearly see the price action. We can clearly see the nice downtrend. We can also see that the price has made a fake breakout to the upside in a descending channel. The price also broke below the 100 EMA and rejected the 200 EMA and started going down. Will it reach the monthly support at around 1.05160? Good luck everyone with your trading!
__________________________________________________________________________________________________________________________________________________
Guys if you like my ideas, please drop a like and follow me if u like my trades. Post comments about your idea too. We can manage the trade together.
__________________________________________________________________________________________________________________________________________________
DISCLAIMER:
__________
This is just my personal opinion. Every trader is independent. Every trader has the freedom to place a trade in any direction.
Thank you for your support,
FX Specialist
Contact me for account management and vip signals