Online Forex Trading - Euro has Extend it bearishness
Euro to extend it bearishness after not having a good economic outlook from recent ECB view on future policies.
Early tomorrow morning we will again hear some additional economic preview from ECB.Some traders will use that data for upcoming Euro trading cycle.
Will ECB show some hawkish tomorrow?That is for another day for another trade.
Online Bisnes Elliott wave point of view :-
Euro has found a few support from recent bearish trend.
I suppose last week high can be labeled as Elliott wave B where more stop at bottom to be triggered.
Fibonacci studies say yesterday Euro has break first importance fibonacci level at 161.8% of fibonacci expansion of wave B-C.
Today Euro has landed at one of most important support.This support built by previous Elliott wave top bullish pattern.And I would like to see Euro continue to bounched off upon that support ( 1.3255 area )
In near future we might see Euro retesting that support for few times before launching the first wave.
Nearest support for euro is at 1.3245-1.3255.
Upper resistance would be at 1.3390-1.3405,1.3460 and 1.3520.
Regards.
Popularity: 3% [?]
