EURUSD Price Action Analysis - 38.2% Fibo level crossing for the main target
Analytics & Forecasts

EURUSD Price Action Analysis - 38.2% Fibo level crossing for the main target

27 August 2015, 14:11
Sergey Golubev
Sergey Golubev
2
1 842

W1 price is located below 200 period SMA (200-SMA) and below 100 period SMA (100-SMA) for the primary bearish with secondary ranging between Fibo resistance level at 1.1712 and Fibo suppoer level at 1.0807:

  • The price is ranging between Fibo resistance level at 1.1712 and Fibo suppoer level at 1.0807;
  • The price is breaking 1.1466 resistance level for Fibo resistance level at 1.1712 as the next target;
  • If weekly price will break 1.0807 support level so the primary bearish will be continuing, otherwise the price will be ranging within the familiar levels;
  • 'Reversal' level for the pair to start to be reversed to the bullish is 1.2202/1.2569;
  • "The 1.1685 area remains immediate resistance ahead of some key Fibonacci attractions around 1.1800."
  • "A daily close under 1.1375 would turn us negative on EUR/USD, but traction under 1.1325 is really needed to confirm a downside resumption."

Trend:

  • W1 - ranging bearish
#eurusd, price action, Fibonacci