RLinda ! EURUSD-> Price rolls back to resistance. What's next?
EURUSD The global outlook is a downward development. The dollar index continues to strengthen, which negatively affects the currencies of other countries.
On the high timeframe chart, we can see that the price is in its lows, and the only zone that may confirm the change of the trend in the global outlook is the 1.046 area, but we do not know when the price will return to this zone.
Now we see a technical pullback from the support of the descending channel to the strong resistance zone. I think that from the resistance, the price will continue to fall in the global trend. There are no preconditions for the price to break the descending channel yet. My target is support at 0.9622.
Regards R.Linda!
On the high timeframe chart, we can see that the price is in its lows, and the only zone that may confirm the change of the trend in the global outlook is the 1.046 area, but we do not know when the price will return to this zone.
Now we see a technical pullback from the support of the descending channel to the strong resistance zone. I think that from the resistance, the price will continue to fall in the global trend. There are no preconditions for the price to break the descending channel yet. My target is support at 0.9622.
Regards R.Linda!
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🧿Web: rlinda.com
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