Having the EURUSD pair moving along a strong channel on the day chart , and having in consideration the fact that we have a strong resistance trendine from the previous months , we can say that the eurusd pair is getting close to a deadend of the current channel .
The Fibonacci tool gives us an idea on the retracement , and we can see that a .681 is very possible to happen .
With a .681 retracement on the resistance trendline , we can expect the price to break throught the current channel and fall beneath .
We can also expect a bounce on the support i indicate in this chart .
In conclusion eurusd is going to take a whole different way on some new price levels.
No fundamendals are taken into consideration , this is 100% technical and from my piont of view .
EURUSD
The Fibonacci tool gives us an idea on the retracement , and we can see that a .681 is very possible to happen .
With a .681 retracement on the resistance trendline , we can expect the price to break throught the current channel and fall beneath .
We can also expect a bounce on the support i indicate in this chart .
In conclusion eurusd is going to take a whole different way on some new price levels.
No fundamendals are taken into consideration , this is 100% technical and from my piont of view .
EURUSD