Lingrid | EURUSD bearish DOMINANCE presents in the MARKET

The price perfectly fulfilled my previous idea. The market literally went down and hit the target level. EURUSD is heading toward the strong resistance zone between 1.07300 and 1.07600. If the price rejects the resistance, then we can expect the price to move to a to a lower level. However, if the market breaks through the resistance zone, we expect the price to retest the next key level at 1.08000. I expect the price to move toward the equal highs, then a fake breakout followed trend continuation. My goal is the support level at 1.06600.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Comment:

Obviously, the market is moving sideways in anticipation of the upcoming news. On the 4H timeframe, we can see a clear range zone. EURUSD is building the liquidity zones above and below it. I think the market might move upward first and then downward after the actual numbers come out. If the news is negative for the DXY , then we can expect the price to be around 1.08000 resistance levels. Price action formed a triangle pattern, which is usually a trend continuation pattern. A fake breakout of it may potentially lead to a massive bearish move. My goal is a support level at 1.06800 from the resistance.

Trade closed: target reached:

The market literally tapped the entry zone and went down, hitting the TP🤑