After false breakout at 04.01.2018 in D1 - that was a second try at 1,2090 to go up! - but at last instrument can't breakup level 1,21 ...I think we have now correction.
If quotation will break down EMA 20 depreciation could be faster.
EURUSD could fall down to "red circle" regio. Ther is 100% trend based fibo extension & DZ from D1 & TL (bull channel bottom range)
& from that moment we should consider 2 scenarios:
1. If EURUSD will break this level down - this will be not a simple correction & we've got here probably a new bearish trend. But of course check up next DZ's on the way down.
2. If EURUSD will bounce up in this regio it could be time to next attack on 1,21 ( but for now this is less possible IMO)... and check next SZ on the way up.
If quotation will break down EMA 20 depreciation could be faster.
EURUSD could fall down to "red circle" regio. Ther is 100% trend based fibo extension & DZ from D1 & TL (bull channel bottom range)
& from that moment we should consider 2 scenarios:
1. If EURUSD will break this level down - this will be not a simple correction & we've got here probably a new bearish trend. But of course check up next DZ's on the way down.
2. If EURUSD will bounce up in this regio it could be time to next attack on 1,21 ( but for now this is less possible IMO)... and check next SZ on the way up.