Overbalance on EURUSD and retest of resistance.

Hi everyone, EURUSD got rejected at 88.6 fib on W1, currently trading below 78.6 fib which was tested today. Negative bias is continuing which could take us all the way down to 1.1946 where we have overbalance and previous resistance. I would like to point out that below that level we have 61.8 from last rally which may be test, if that won't hold the negative pressure, lower at 1.1824 we have 61.8 fib from W1 which should hold euro, and may end the correction.


This information is not a recommendation to buy or sell. It is to be used for educational purposes only.