EURUSD FIX on RESISTANCE line and FALL

1 feb 2021

At the beginning of last week, we expected that the eurodollar would break through the resistance line at 1.216, consolidate on it and continue to fall to the lower border of the ascending channel. Despite the fact that the price made several corrections, this is what happened.

The price fixed at the line 1.219, after which it continued to fall and, during this fall, came to the area of ​​1.210. Right now, the price is within this zone at position 1.212. And I expect her to keep falling.

We see how the price corrected in the zone, showing a slight increase from it to the resistance line. This movement can be regarded as a good consolidation before a new fall. Thus, I expect the price to fall from the resistance line, break through the 1.209 support line and come to the 1.197 support line.

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