c
EURUSD is approaching the support line of a rising channel.
1.1000 is the critical level to watch. If 1.0980 level is broken down then the price most probably will retrace and continue to fall down to 1.0770 which is strong support.
However, in case the price bounces off of the channel's support line it may again retrace and continue uptrend until 1.1370
There is always a second possibility in this random walk market and the classic textbooks suggest to buy deeps and sell rallies.
Good luck traders.
EURUSD is approaching the support line of a rising channel.
1.1000 is the critical level to watch. If 1.0980 level is broken down then the price most probably will retrace and continue to fall down to 1.0770 which is strong support.
However, in case the price bounces off of the channel's support line it may again retrace and continue uptrend until 1.1370
There is always a second possibility in this random walk market and the classic textbooks suggest to buy deeps and sell rallies.
Good luck traders.