EURUSD Fibonacci Support Resistance Zones: EU as of Jun 17

Updated

These zones are calculated using Fibonacci Ratios of past price moves.
Fib extensions and retracements are projected forward in time and price.
If price bounces or reverses, it will probably do so at one of these zones.

Some zones will match previous highs and lows, since Fibs are derived from the extremes.
Some zones will not match anything previous, but they are Fib multiples and THOSE are the important ones.
Zones that are far from current price will be either WIDE or just a LINE. Just a line indicates important Fib Ratio.

Where prices overlap on the zone lines, drag the Right (price) Axis up to magnify and reduce overlap vertically.
There are zones above and below the current price range, Drag the Chart up/down to see other zones.
Drag bottom axis to the left to magnify the candle size to view close up, or to the right to view larger time frame.

I will update as new zones are defined by upcoming Fibs.

Note

London Open.
Pushing into the zone below.
The pin bar to left shows previous support.
Will London boys do a stop run below and then go up?
Or is EU doomed for this session?
The behavior around this zone might provide clues, or not....

Note

So a bounce it is!
Fib drawn, watching.
Notice the .618 retrace lines up real nice with previous zone.
I wonder.....

Note

Moment of truth for EU.
Get past new 618 in existing zone?
Or retrace down and back down?

Note

Good job EU!
Maybe retest .618 and zone, then up some more?

Note

Wow, great job EU:

now maybe it will walk into my trap :)

EURUSD looking for bounce to short more: EU scalp idea

but its gotta get past 1.16184 to keep bulls on board I think.

Note

EU may have just completed a Fib-perfect 4 wave impulse up.
ABC retrace might bring about a retest of 1.16.
if that fails, she goin down!

Note

Darn it! I should have caught it sooner.
EU apparently working the .236 extensions, which to me is a sign of weak bull moves, given the .618 bounce for wave 2, it should have been working the 618's u
s3.amazonaws.com/tradingview/snapshots/3/33LTJWJK.png

Note

EU did pull back, and retested bottom of wave 4 at the 1.236.
Now is consolidating in the w3 top to w5 top range, very common occurrence.
I took small scalp short last night at 1.162, trailing stop was hit with a few pips profit.
Still waiting for a little higher to get a real short on!

Note

My current thoughts on EU.
It might be gaining strength.

Note

So much for the strength...

Note

Looks like some profit taking at Daily S2 pivot (light blue) and 5.618 extension.
My next zone is at 1.153 and happens to be the 6.618, so probably will go there.
Below that are a bunch of energy bands in the 1.1500 area, as would be expected.
I think 1.1500 will be tested, then I will look for a pennant/flag/wedge pattern around there to give a clue of next leg down.

Note

Decent little bounce just ahead of 6.618
The previous fibs in that zone providing some support.
But bulls are out of Pivots to rely on, if they lose the 6.618, then 1.15 looks imminent

Note

1 min chart, lol.
But always looking for the ''note''' being played

Note

Close up of the price action tonight.

All of these grey lines/zones are in original chart above, posted 2 days ago.
Notice the recognition of each band and line.

-
Same shot with NEW Fib extensions of today's move.

All of the new fib lines match previous zones.

IE:
This significant move was completely IN TUNE with the harmonics of this asset.

Note

And as expected, a significant bounce from the existing fib zone now reinforced with a new insert of energy.

Note

Another picture perfect jump from one zone to another.

Note

Close up of a zone for my own study,

Note

Tonight's move scooped up a bunch of limits sells for me.
Stops moved to BE. Hoping for good ride down to all three targets given the less than bullish behavior of this bounce.

Note

All fib zones still confirming even through massive moves.

I will post an updated set over the weekend because the end of week moves have defined new zones for me.

EuroMotif

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