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Euro after a possible test of the support line can reach resistance

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Hello my friends, today I want to talk to you about EUR/USD

The Euro has formed an ascending wedge and traded inside.

The price is now trading close to the support line and can go down and test it.

After a possible retest, the price can bounce back and rise.

I expect that the price can start to rise and reach the resistance line where I have set our goal at a level 1.0630

After reaching the goal, the price can turn its movement.

Therefore, as soon as the market situation changes, I will update this idea for you.

I expect such a scenario.

This is an article not financial advice, always do your own research.

If you still have questions, you can write it in the comments below and I will answer them.

And please don't forget to support this idea with your like and comment, thanks.

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  • 3 weeks later...

Great analysis, clearly EURUSD is in the uptrend and it will be difficult for bears to break it due to ultra-hawkish ECB position, even more hawkish than the Fed. The odds are high that Euro will extend recent gains in the new year,聽 that's why I gradually build up my EURUSD position at Hotforex

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