RLinda ! EURUSD -> Price increase is a current prospect

3 feb 2023

EURUSD showed huge volatility last session. Fundamental factors shook up the price and the whole market of intraday traders. The price makes two false breaks. After the retest of the support, a bounce up is formed.

The trend remains upward, the psychological target of 1.10000 is ahead, but before that the price will have to overcome the zone of 1.09267.
The price is testing the nearest resistance, which is the upper boundary of the consolidation, so I think that the local distributive movement may end with the octate to the channel support, from which the growth should be expected in the mid-term.

I expect the growth of the pair to the medium-term target - 1.10000-1.1032. On the chart there are two zones. The first one is the channel support (the key one). after the possible rollback to the channel support the price may start to strengthen again. The second one is the consolidation resistance, in case of breakdown the price may start to move to 1.1032.

Regards R.Linda!