Since last Friday
we have been paying attention to the visit of the EUR/USD to the 61.8%
Fibonacci retracement as shown on the daily chart below. Even though the price
tried to break below that level at the beginning of today’s session, it started
to rise from that level and gained a bullish momentum. If the price continues
rising, then we may see a visit to the 200 Day Exponential Moving Average from
where it may try to bounce back down. However, if the price comes back down
from the current levels and break below the 61.8%, then we should pay special
attention to the 76.4%, because a visit to that level could give us a good
bounce to the upside.
great analysis. ill be watching the price
ReplyDeleteGood post , all eyes on it and what will gonna do.
ReplyDeleteIs complying with the maximum shrinkage and as such to show signs that it will continue to rise
ReplyDeleteEURUSD initially fell during the session yesterday, but found enough support below the 1.36 level in order to continue going higher. This pair formed a very bullish hammer closing near the highs for the day, is expected that it will continue to move higher and head towards the 1.37 handle.
ReplyDeleteIt stoppet right there!
ReplyDeleteGood movements this week in EUR/USD
ReplyDeleteGreat assessment
ReplyDelete