EURUSD ends falling, starts GROWTH

11 янв. 2021 г.

Despite the price fluctuations last week, when the pair began to roll back after a strong rally, the price is still in a long upward channel that starts in February 2020.

As I said in my previous forecast, the price was able to break through the resistance level.

At the end of last week, the price touched the resistance line 1.233 and, during the fall from it, it was able to break through the resistance level 1.221.

On the chart, we also see a support line, which was also formed in 2019. During the price movement in the channel, several strong breakouts of this line occurred. Together with the level at which the price is now, it forms a small support zone.

Therefore, the first thing I expect from the price is that it will continue to fall and go down to the support line 1.218 and start to rise. I expect that during the growth the price will make a slight rollback, but in the end it will still come back to the resistance line 1.243.

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