Have been bearish on this pair for a while now with the Weekly Fibonacci play. We completed the move down to 130.00 recently, which i posted analysis about before hand, and that made a nice new lower low for us there. We then had a drive up as a result of some fundamentals with news from Draghi and the ECB before price action began showing signs of that buying momentum slowing.
We have now had some nice bearish price action on this Daily chart right off the 61.8 fibonacci retracement and last weeks candle closed below the key 133.30 level.
Downside Targets:
- Target 1 130.00 lows
- Target 2 128.00 new lows
We have now had some nice bearish price action on this Daily chart right off the 61.8 fibonacci retracement and last weeks candle closed below the key 133.30 level.
Downside Targets:
- Target 1 130.00 lows
- Target 2 128.00 new lows