EURUSD Forex Technical Analysis (Daily)
EURUSD broke the resistance (Red dotted) of the small consolidation zone and moved up towards the 61.8% Fibo retracement mark, which has served as a resistance point till now.
A push above this Fibo could see price challenge the 78.6% Fibo mark of Wave 2 Vs 1, but a break above 100% invalidates the Wave count.
The EURUSD bounced at the 38.2% Fibo retracement of Wave B Vs A and is heading towards the Fibo targets of Wave C Vs A.
The 4 hour technicals indicate selling may be something to consider, but am wary due to the weekly picture. With that in mind, remaining flat until more conducive price action presents itself is the prudent thing to do in here, there will always be a trade.
Latest posts by Paul Ebeling (see all)
- F1: Vettel’s Ferrari (NYSE:RACE) Racer Christened “Gina” - March 22, 2017
- The “Trump Approach” Taking Hold Worldwide - March 22, 2017
- Confirmed, Obama was Spying on Donald Trump - March 22, 2017