EURUSD do or die level
EURUSD downside extension after a rejection from 1.13000 is reaching the strong long-term resistance marked by the 1.08700 level. A break below this level will lead to a substantial downside extension and make the end of a consolidation triangle lasting from 2017.
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The weekly chart shows a medium-term falling wedge which is now being broken through and is testing the crucial 1.08000-1.09000 zone. The price action indicates a downside extension that needs to be confirmed next week. A bounce will lead to a consolidation extension.
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On a daily chart, we can see a good RR trade opportunity Already a member? This article is so good, it’s for premium members only.
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We have used the combination of the top-down trading analysis to get these critical levels explained in the charts. Also, you can see Elliott Wave and price action analysis together in action along with the Andrews Pitchfork channel tool. If you want to learn the trading strategy that will give you immediate results in your trading register for Trader’s classroom.
