This is the updated chart to my previous EURUSD analysis. Price did indeed rally back to the 100% Fib level. Price action looks bullish given the Dollar Index is at a major resistance and a major bearish divergence looks to be in play.
For those short in EURUSD.
Look for a break out from the price channel. If yes, then we could see a potential rally. Price is likely to drop down back to 1.23638 - 1.238 levels to test the support zone. Exit then.
Attached references to the previous analysis and the longer term weekly analysis.
A weekly close above 1.25 could see a rally to 1.28.
For those short in EURUSD.
Look for a break out from the price channel. If yes, then we could see a potential rally. Price is likely to drop down back to 1.23638 - 1.238 levels to test the support zone. Exit then.
Attached references to the previous analysis and the longer term weekly analysis.
A weekly close above 1.25 could see a rally to 1.28.
