EURUSD: Approaching a bearish momentum?
Hello everyone, today EURUSD has risen higher on Thursday, testing the highest bid price since the beginning of February before returning to the 1.0800 area after European and US Purchasing Managers' Index (PMI) data showed a slight decrease or contrary to forecasts.
With the ability to create a DOW from the chart, using the Fibonacci retracement level, the upward movement will soon reach resistance levels at 1.0866 and 1.0919, followed by a rapid decline with an expected touch point of 1.618, which is 1.0422.
What about you? Do you agree with me?
With the ability to create a DOW from the chart, using the Fibonacci retracement level, the upward movement will soon reach resistance levels at 1.0866 and 1.0919, followed by a rapid decline with an expected touch point of 1.618, which is 1.0422.
What about you? Do you agree with me?
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