EURUSD map: Down to 1.04-1.00 Then Up to 1.16-1.21
EURUSD is in the second leg down to complete a complex correction (red down arrows).
There are three crucial target points for drop to watch:
1) Valley of red leg 1 at 1.0448 and 50% Fib at 1.0406
2) 61.8% Fib at 1.0200
3) Touch point of the throwback to broken trendline around parity
Next is the reversal to upside within the large leg 2 up (blue up arrows).
The possible targets depend on the depth of the current drop, the deeper the lower the upside target.
From the first point of drop EURUSD could hit 1.21 area.
From the lowest valley of parity it could reach 1.16 handle.
There are three crucial target points for drop to watch:
1) Valley of red leg 1 at 1.0448 and 50% Fib at 1.0406
2) 61.8% Fib at 1.0200
3) Touch point of the throwback to broken trendline around parity
Next is the reversal to upside within the large leg 2 up (blue up arrows).
The possible targets depend on the depth of the current drop, the deeper the lower the upside target.
From the first point of drop EURUSD could hit 1.21 area.
From the lowest valley of parity it could reach 1.16 handle.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.