EURUSD falling from resistance

27 ene 2021

I am extending my forecast from the beginning of the week.
In my opinion, the price will fall.
25.01

26.01

There are several prerequisites for the fall:
First, the price has broken the line. resistance at 1.216 (March 2020).
Secondly, the price consolidated on the line at position 1.219.
Thirdly, this movement takes place inside a growing channel (the price falls from the upper channel line).
I expect that after the breakdown of the resistance at 1.216 and consolidation on this line, the price will continue to fall.
It will drop to support (2019 strong line).
The target is 1.203.

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