The price had several attempt to test the 136.500 resistance.
However, it pulled back below 23% of Fib, I'm looking whether it will pass below the support trend line or pass below the 38.2% Fib. At this level, the price is indecisive, could it be because it's still waiting for the this weekend decision of Germany political crisis.
If it does break below the 38.2% there is more chance the price will test the support level at 134.500 and there might be a good chance to have a buying opportunity there.
But if the price don't pass below the 38.2%, I'm expecting there are some buyers coming in respecting the trend support level. This will create another buying opportunity. Either way, my target would be 136.500 and see whether it can break out the resistance or not.
I'll be looking at the price action closely this week for this pair.
However, it pulled back below 23% of Fib, I'm looking whether it will pass below the support trend line or pass below the 38.2% Fib. At this level, the price is indecisive, could it be because it's still waiting for the this weekend decision of Germany political crisis.
If it does break below the 38.2% there is more chance the price will test the support level at 134.500 and there might be a good chance to have a buying opportunity there.
But if the price don't pass below the 38.2%, I'm expecting there are some buyers coming in respecting the trend support level. This will create another buying opportunity. Either way, my target would be 136.500 and see whether it can break out the resistance or not.
I'll be looking at the price action closely this week for this pair.