Lingrid | EURUSD pulled back to CONSOLIDATION zone

5月10日

After the recent news reports, the market rolled back to the consolidation zone. Now, it's heading towards a significant resistance level, but it's not looking likely to break above Monday and Tuesday's highs. In fact, I think EURUSD will likely bounce back and fall, as the market has been stuck in a range for some time. On the 4-hour chart, the price is currently testing the global downward trendline. The market has bounced off it a few times, building momentum in the process. My prediction is that the market will fake out above the resistance level, only to then fall back down towards the support level. My gaol is support at 1.07370.


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