Hi traders,
On the EURUSD we had a nice impulsive move on starting on Wednesday, where we finally broke the downwards spiral. It looks like we have created a nice ABC pattern. We are very close to hitting the 161.8% Fibonacci extension of that move, which often causes a reversal. This area lines up with the 50% Fibonacci extension of the upwards move.
Target is still at the 1.07000.
Good luck traders!
On the EURUSD we had a nice impulsive move on starting on Wednesday, where we finally broke the downwards spiral. It looks like we have created a nice ABC pattern. We are very close to hitting the 161.8% Fibonacci extension of that move, which often causes a reversal. This area lines up with the 50% Fibonacci extension of the upwards move.
Target is still at the 1.07000.
Good luck traders!
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