Hi everyone. It's my EURUSD weekly analysis.
As can be seen on the graph there is a really good trend starting from 1,06 then 1,20. (correction to 1.16) then 1.2355 then 1.1835 today.
What I think is that EURUSD is on another correction (starting from 1,2355 to 1.1835) and we could have seen the lowest point of this correlation. 1.1835 is the 200 days of moving average and there is strong push from bulls on that point.
The more important here is that if you look the the fibonacci analysis of the rally which starting from 1,16 to 1,2355 the 0.618 point is 1.1880. The market is like to buy the corrections from the fib levels betweeb 0.5 and 0.618.
That why actually I think that could be the lowest points of the correlation and starting to new highs of higst on the euro!
Best regards
As can be seen on the graph there is a really good trend starting from 1,06 then 1,20. (correction to 1.16) then 1.2355 then 1.1835 today.
What I think is that EURUSD is on another correction (starting from 1,2355 to 1.1835) and we could have seen the lowest point of this correlation. 1.1835 is the 200 days of moving average and there is strong push from bulls on that point.
The more important here is that if you look the the fibonacci analysis of the rally which starting from 1,16 to 1,2355 the 0.618 point is 1.1880. The market is like to buy the corrections from the fib levels betweeb 0.5 and 0.618.
That why actually I think that could be the lowest points of the correlation and starting to new highs of higst on the euro!
Best regards