EURUSD In a Retracement

After failing to push thorugh 1.4800 EURUSD has started to give back some of the gains it made in its spectacular move last week; the pair is trading just under the 1.4700 level and the first sign of support is at 1.4600 where we have the 61.8 Fibonacci Line of the 1.4150/1.4880 move up; at that level one could start looking for signs that could resume the upward trend. Coneversely if the support at 1.4600 fails to hold, the next one is the area just above 1.4500, the 50% of the above mentioned move, followed by 1.4415 where we have seen a couple of swing points.

After failing to push thorugh 1.4800 EURUSD has started to give back some of the gains it made in its spectacular move last week; the pair is trading just under the 1.4700 level and the first sign of support is at 1.4600 where we have the 61.8 Fibonacci Line of the 1.4150/1.4880 move up; at that level one could start looking for signs that could resume the upward trend. Coneversely if the support at 1.4600 fails to hold, the next one is the area just above 1.4500, the 50% of the above mentioned move, followed by 1.4415 where we have seena couple of swing points.

 

[NP][/NP]