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Trading signals for #EURUSD → Flat. Break of support will continue the trend

2023-10-26 09:05 FOREX forecast

💡Ideas For EURUSD 🇪🇺/🇺🇸

📈 EURUSD → Flat. Break of support will continue the trend

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#EURUSD broke the downtrend earlier. But there is one thing - there is no change of market direction. A flat is formed within which the price is moving from resistance to support

Pay attention to the #DXY. after a local stop and a false breakout, the index continues to show bullish attacks, despite the local improvement in inflation. At the same time, the EURUSD currency pair is also standing still. There is a major prerequisite for the market to continue its decline - the flag on D1. If the support at 1.05000 is broken, the price will form a bearish impulse. A rebound from the support may follow before the break of 1.05000.

Moving averages show accumulation formation against the background of bearish trend.

Support levels: 1.05000, 1.0460

Resistance levels: 1.06000, 1.0632

I assume that in the long term a small correction may follow before the breakout of the above support.

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#EURUSD 🇪🇺/🇺🇸

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