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We're waiting for a possible buy from 38.2% fib level towards 1.2425

We're waiting for a possible buy from 38.2% fib level towards 1.2425 | 12 April 2021

12 April 2021, EUR/USD

We're waiting for a possible buy from 38.2% fib level towards 1.2425

Wave Analysis

Since the beginning of this week, Euro has been in a correction mode but could not go beyond 38.2% fib level. While the price remains above this fib level, we are looking for further momentum to the upperside and should breakout above 23.6% fib level and could rally much higher towards 1.2425 and could breakout much higher. On the flipside, should the price breakout below 38.2% fib level could move the price much lower towards 50.0% fib level and could move the price much lower towards 61.8% fib level or even lower.

Trade Recommendations:

We're waiting for a possible buy from 38.2% fib level towards 1.2425.

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Bob Stan
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