EURUSD → Bounce from 1.1200 before further growth

25 сент.

EURUSD has been rallying since the beginning of the Asian session and is reaching the key resistance at 1.1200. The psychological level has quite a strong weight on the market and it will be difficult to break this area from the first time....



A rebound is forming on H4-H1. On D1, a rather wide range of 1.120 - 1.105 is forming in the market but after the price exits the descending wedge, which is a rather promising bullish premise. Due to the strong distribution to 1.1200 the market has no potential to break through this zone, accordingly, in the short (mid) term I expect a pullback or consolidation in the range 1.12 - 1.114 ( 1.111) and the subsequent retest of the upper boundary of the range with the aim of breaking through and further growth to 1.127 - 1.135.

Resistance levels: 1.120
Support levels: 1.114, 1.111

There is a huge pool of liquidity above 1.12, which will not allow buyers to overcome this obstacle so easily. We are waiting for a correction and a further breakdown, which will be followed by growth.

Rate, share your opinion and questions, let's discuss what's going on with ★ EURUSD ;)

Regards R. Linda!

25 сент.

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Resistance retest is formed (price enters the liquidity zone)

26 сент.

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That's great!
False break of resistance forms a correction to the liquidity zone.
We are waiting for the recovery phase to the resistance!

27 сент.

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Resistance retest after correction is formed