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EURUSD has reached fib 0.618 @ 1.2080

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Euro / Dollar AS (FX:EURUSD)  
Finacademy  
FX:EURUSD   Euro / Dollar AS
Trend Analysis Wave Analysis EURUSD Technical Analysis
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trendanalysis waveanalysis eurusd technicalanalysis
EURUSD bulls had managed to push higher towards fibonacci 0.618 retracement of the recent down swing between 1.2242 and 1.1704 respectively yesterday. As expected, it has produced a bearish bounce and could turn lower towards 1.1300 mark in the next few weeks. The wave structure might be unfolding as follows: Waves 1 and 2 are in place at 1.2050 and 1.2242 respectively. Waves (i) and (ii) of Wave 3 might be in place at 1.1704 and 1.2080 as labelled. If correct, a (iii) of 3rd wave might be underway soon.

Short against 1.2350, towards 1.1300
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