R.Linda Trading - forecast

EURUSD → Favorable fundamentals for growth

FOREX forecast
💡Ideas For EURUSD 🇪🇺🇺🇸

📈 EURUSD → Favorable fundamentals for growth

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#EURUSD is strengthening and continues to give signs that the price will continue its rise on the back of a weaker dollar due to weaker GDP than analysts expected
On D1, the price is testing the 1.1000 resistance area (important zone). A reversal V-shaped pattern is being formed, followed by numerous retests of the line. (rlinda . com) The pre-breakdown consolidation and positive fundamental background for the euro are doing their job.

The price is making a breakout attempt. A consolidation of the price above 1.1000 will form a bullish potential, which will be a strong support for the pair.

On H4 the price is still in the range of 1.1017 - 1.0830. Another resistance retest is formed after a small correction. A breakout of the level is expected with subsequent growth to the trend resistance. Moving averages support the market.

Support levels: 1.099, 1.0965, 1.093

Resistance levels: 1.1000, 1.1017

We expect a breakthrough of the above-mentioned area and continuation of the currency pair growth in the framework of the uptrend.