Participant

The Euro has been in a decline over the past 7 trading sessions, after peaking at 1.0963. This retracement seems to have hit some support as yesterday’s low touched the 38.2% Fibo line and so has today’s. Yesterday’s and today’s candles have created a double bottom on the support of the 38.2 line. The main trend seems well in tact with 3 exponential moving averages still showing upward trend. So it looks like this could be a good level to enter new longs, resistance will be at 1.0807 if that is broken then the next resistance will be at the previous high.

You must be logged in to reply to this topic.