RLinda ! EURUSD -> Strong consolidation. When is the breakout?

2023년 1월 2일

Hello friends, let's get to work!
The EURUSD chart is showing strength and most likely preparing to break through resistance 1.0695. When will this happen?

The level of 1.0695. The price has been consolidating near it since late 2022 with quite a strong accumulation. The price is not falling but continues to press from below, the bulls are strengthening their positions. Possible potential in case of breakdown - growth of 2% (to the level of 1.09200)

I assume that the price will trade between the resistance 1.0695 and the support of the ascending channel for some time. But after that the price may test the breakdown resistance level. The short-term target is resistance at 1.0764. Medium-term target is the liquidity area at 1.09221.

Regards, R.Linda!