EURUSD Faces Resistance Despite Downtrend Break, Upside Potential Conditional
chart by ICM.com
Chartist Trader
6/25/20241 min read
Breaking the downtrend line in EUR/USD does not guarantee an immediate uptrend. Simultaneously, the price has encountered a significant resistance level, potentially prompting a decline back to the previous support level. If the resistance is breached, the price is expected to advance toward a new resistance level before possibly retracing to the current resistance-turned-support level.
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