EURUSD Forex Technical Analysis (Daily)

EURUSD Forex Technical Analysis (Daily)

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.

Stay tuned…


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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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