Here's What To Watch Today
As USD buying continues this week we're making the most of this and more! Read What charts are hot today.
Price is approaching the first potential support zone we see. We anticipate continued selling into this zone today.
The support structure below lines up with the recent structures 61.8% fibonacci extension. We anticipate a move into this area and will look for a break or bounce of this zone.
EUR/USD is now printing fresh lows for this year. We're looking for the previous low to be retested, and then for a sustained move into the 61.8% extension!
On the 1H chart we're looking for price to move into the short term fibo extension at 1.1440. From here we'll look for a structure retest.
Price bounced from the resistance zone we outlined, and is now breaking below the previous 2021 low. We're looking for a sustained move to the downside now.
We're looking again for price to continue into the 61.8% fibonacci extension. Price has strong bearish momentum, the RSI is bearish, and the ADX is showing that this trend is gathering steam.
Price has bounced from support, giving us the move we were anticipating. We're continuing to look for upside into the first structure zone as resistance.