Euro-dollar reaching the bottom of a truly important channel (2) the euro broke the holder specified in the report on Friday 1,2735, and saw the price to move away from the bottom of the channel, successfully reaching the values suggested 1,2854 and 1,2935. The most important technical event of last week was not the exciting collapse, but get to the bottom of the downtrend in the daily graphic channel (please refer to the attached graph). And after a rebound of almost 450 ptos, this Fund has proven to be important. We could be facing a turning point not only for the short term, but also for the medium term. But on the other hand, the price reached, and stopped, in the Fibonacci 38.2% to the total drop from 1,3690 up to 1,2511.
This technical evidence favors the fact that we’re in a correction on the rise from the low of last week. A correction that reaches its first objective (38.2% Fibo). The question now is: this correction will comply with 38.2% or will be fired towards the most important reverse levels of 50% and 61.8% Fibonacci? This question can be answered remaining below, or breaking 1,2966. If this resistance is broken, correction will continue, and you will be directed first of all towards the 50% Fibonacci 1,3105, and then click 1,3165. Here, this movement will face difficulties and will be more difficult that it can go ahead. The support is 1,2900, its breakdown would indicate a decrease, away from 1,2966 and moving towards 1,2795 and 1,2690. Support: 1,2900: important support intraday.
1,2795: Fibonacci 38.2% to rise from 1,2519. 1,2690: Fibonacci 38.2% to rise from 1, 2519. resistance: 1,2966: Fibonacci 38.2% for fall from 1,3690. 1,3105: Fibonacci of 50% for the fall from 1,3690. 1,3165: Support / resistance previously known. Analysis by: Forexpros.es with the participation of Munther.exoneracion of responsibility: operations of futures, options and currency carries an associated significant risk and may not be advisable for all types of investor. You should carefully analyze if your particular situation you have the knowledge, the experience and the resources necessary to operate in these markets. You can lose all the capital invested or that their losses exceed the funds initially deposited. Follow our advice, opinions and recommendations and make money with forex.Greetings, Forexpros.
