RLinda ! EURUSD-> The bulls are breaking resistance. Growing?

Dec 14, 2022

EURUSD against the background of fundamental factors breaks through the double resistance (the upper boundary of the triangle and the channel boundary). The price reaches the high of 1.067 and goes into consolidation. What does it mean?

Yesterday's economic data suggests more positive conclusions in the medium term. The price breaks through the resistance and forms a consolidation above 1.063, from here the upside potential opens. The trend remains bullish and the price may reach 1.0748 resistance in the near future.

I assume that if the bulls manage to maintain their position above 1.063, the next target for the price will be 1.0748.
However, a false breakdown scenario is possible. If the price returns to the channel and consolidates under the resistance, the price may fall to 1.0496.

Regards R. Linda!