💱EURUSD - Retest of resistance zone
EURUSD is testing flat support. There is both the possibility of forming a false breakout, but in this case the previously broken trend resistance will be confirmed, and an attempted breakout, in which case the price will head down.
TA on the high timeframe:
1) There is consolidation forming around 1.09526 and numerous retests.
2) Price is testing a strong support within the framework of correction
3) The price can both rebound and break the support.
TA on the low timeframe:
1) Flat 1.1050 - 1.09526 is formed
2) In case of a false break of the flat support, the price may go to the upper boundary.
3) If the flat support is broken, the price will return to the downtrend boundaries, in this case the price will head towards 1.08000.
Key support📉: 1.09289, 1.09526
Key resistance📈: 1.09997
TA on the high timeframe:
1) There is consolidation forming around 1.09526 and numerous retests.
2) Price is testing a strong support within the framework of correction
3) The price can both rebound and break the support.
TA on the low timeframe:
1) Flat 1.1050 - 1.09526 is formed
2) In case of a false break of the flat support, the price may go to the upper boundary.
3) If the flat support is broken, the price will return to the downtrend boundaries, in this case the price will head towards 1.08000.
Key support📉: 1.09289, 1.09526
Key resistance📈: 1.09997
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