EURUSD is currently sitting at a key fib level. This area has been watched as a level for profit taking. In the large picture the area could very well be an area that the market pivots or makes a correction for a move lower. Keep an eye out for the 1.0121 and the parity level at 1.0000. That fib range has a much stronger cluster which should cause a very trade able reaction.
Note
We had our minor reaction at the current fib zone and were now making our way to a much larger one. this next zone is close to the 1.0000 level. stops should be below that if trading this area. better be safe with such a major number as that.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.