EURUSD Is Making A Higher Degree Correction

16 Mar 2023

EURUSD reversed sharply to the downside in the last few weeks as USD turns up across the board after new global inflation worries. So far we can see a nice and strong decline on the EURUSD, which for now is still in the making and can be even deeper in three legs (A)-(B)-(C). We still think that pair can complete a higher degree of correction around 38,2% Fibonacci retracement and 1.0480 level or even deeper around 50%-61,8% Fibo and 1.03 - 1.02 support zone.