the pair is seating on a 50% fib expecting small up move correction (1.0610-- 1.0630)
and then down trend is likely ready to resume. Deeper fall is expected in near term and break of 1.0494 support should confirm this bearish case.but i will be looking for reversal between
1.0500 to 1.0565 for strong up move specially if price break above 1.0688 will confirm
the case for squaring the unretraced candles.
not that if price break 1.0495 should confirm the next down leg to 1.0340
and then down trend is likely ready to resume. Deeper fall is expected in near term and break of 1.0494 support should confirm this bearish case.but i will be looking for reversal between
1.0500 to 1.0565 for strong up move specially if price break above 1.0688 will confirm
the case for squaring the unretraced candles.
not that if price break 1.0495 should confirm the next down leg to 1.0340
Note
eur to retrace candles at 1.0629 , 1.0740 ,1.0798
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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.