Euro can leave pennant and continue to decline next

9 août 2024

Hello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price some time ago started to trades inside range and at once reached the top part, after which started to decline. The price quickly fell to the 1.0815 support level, which coincided with the buyer zone, and some time traded between this level. After this, the Euro dropped lower 1.0815 level, breaking it, and also exited from the range, after which the price entered to upward pennant. In this pattern, EUR at once made a strong upward impulse from the support line to the resistance level, breaking the 1.0815 support level one more time. Next, the price broke the 1.0930 level, which coincided with the seller zone, and rose until to resistance line of the pennant, after which turned around and in a short time declined lower than the 1.0930 level, breaking it again. After this, the EUR tried to rise back, but when it entered to seller zone, it made a correction movement to support line of the pennant pattern. But a few moments ago it rebounded from this line and at the moment EUR trades near the resistance line. So, I think that the price can fall to the support line, after which bounces up to the resistance line and then continues to decline, exiting from the upward pennant as well. Therefore I set my TP at 1.0850 points. Please share this idea with your friends and click Boost 🚀

10 août 2024

Note

Great! Now, the Euro will exit from the pennant and continue to fall to my TP