Lingrid | EURUSD Promising REVERSAL Pattern At the DEMAND zone
Updated
EURUSD reached a resistance zone and is struggling to extend downward, showing signs of a potential reversal. An inverse head and shoulders pattern indicates that bears may not be ready to push the market lower at this time, signaling potential strength among buyers. On the daily timeframe, the recent price action shows a fake breakout of the previous demand zone around the 1.04500 level, suggesting that buyers might still be in control and that the downside momentum may be weakening. If the market continues to form this reversal pattern, it is likely that we could see a pullback to retest the resistance zone around the 1.07000. IF price reject this resistance level and hold above the support formed by the recent demand zone, it could pave the way for a further upward movement. My goal is the resistance zone around 1.06140Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Trade closed: target reached
📚The BEST Trading Course: t.me/lingrid
💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: bit.ly/3J4aRVE
🏆TOP Broker: lingridedu.com/brokerFXPro
🌎WebSite: lingrid.org
💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: bit.ly/3J4aRVE
🏆TOP Broker: lingridedu.com/brokerFXPro
🌎WebSite: lingrid.org
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.