InvestMate|EUR/USD next wave of weakness💶💵

💶💵EUR/USD next wave of weakness.

💶💵As in previous posts I have predicted declines on EUR/USD:

💶💵This time we have a period of correction which, in my opinion, will end with a continuation of the weakening of the euro against the dollar.

💶💵It is worth emphasising that we are currently in the process of performing a correction of the uptrend.

💶💵A current local uptrend is a correction of a downtrend impulse.

💶💵A strong resistance zone that can hold the euro has been determined on the basis of the zone between the level of 0.382 and 0.5 of the entire downward wave, the price has repeatedly bounced from this zone, which strengthens its credibility.

💶💵The support zone that I think the price will go to in the near future was determined by a cluster of two measurements. The first is the 0.382 level of the entire upward wave and the second level is the 1:1 range of the largest downward correction in long term up trend wave.

💶💵The scenario I am playing out is a decline from the resistance zone to the support zone where I will look for signals to continue the uptrend.

💲*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.

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