EURUSD The chart clearly shows a strong bearish trend and a formed price channel. For a long time, we see a decrease and renewal of local lows. For the price, the 1,000 zone was very strong and we could not break it down. After a false breakdown, an up-trend is formed.
The price reaches the resistance area and the limit level 1.0194, the energy for the continuation of the movement, in terms of technical analysis , the price clearly does not have and most likely, we should expect a pullback.
I assume that it is worthwhile to base on the price behavior in this zone 1.0194 and in case of false breakdown and consolidation in the short zone it is acceptable to open short positions, but in case of price fixation above the level of 1.0194 growth is possible. The short-term target in case of falling is support of 1,000.
Make sure to check my introduced MT4 Trading Strategy below:
Complete Trading Solution
MT4 FX BLOCK TRADER SOFTWARE
MT4 FX BLOCK TRADER
ARE YOU READY..
Accurate And Stable MT4 Software That Can Help You With Trading On Any Type Of Market!
GO BEYOND YOUR LIMITS
Trade With Pro Software