Fib analysis on EUR/USD
Fib expansion analysis on EUR/USD:
1st wave: connecting March low at 1.065 with previous June high at 1.1420.
2nd wave: retracement of the latter move, from June high at 1.1420 to June low at 1.1170.
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We get Fibonacci expansion levels:
1- The 100% level at 1.1940 got hit in August.
2- Pair retraced to 61.8% at 1.1640, then a little bit lower.
3- Pair moving up again, met resistance at the 78.6% level at 1.1770
1st wave: connecting March low at 1.065 with previous June high at 1.1420.
2nd wave: retracement of the latter move, from June high at 1.1420 to June low at 1.1170.
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-
-
We get Fibonacci expansion levels:
1- The 100% level at 1.1940 got hit in August.
2- Pair retraced to 61.8% at 1.1640, then a little bit lower.
3- Pair moving up again, met resistance at the 78.6% level at 1.1770
Ramzi Abou Abdallah, CFTe, CMT
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