EUR/USD projection

13 Jan 2018

As far as I am concered, the price needs to fall. On the D1 chart, the price is in ascending channel and has broken few resistance levels. If you form an ABCD pattern, the price did it exactly. I think that it needs to be corrected and the price will fall to the levels of 1.20973 (fibo 23,6%) or even to the level 1.20293 (fibo 38,2%). My claims are found also in the fundamental analysis because one of the most important data for the economy of some country(CPI), and by this I mean on US CPI which was good, the price has to react on that. After falling on to those levels, we may expect further highs afterward. If it fails to retrace to higer levels then it should fall to the level 1.19744 (fibo 50,0%) and so on...