Expect a possible momentum towards 50.0% fib level. | 29 Marzo 2021
29 Marzo 2021, EUR/USD
Wave Analysis
During the previous trading week, euro broke below 1.19580 and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below 1.19580, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of a correction to the lowerside and should breakout below 38.2% fib level towards 50.0% fib level and could breakout much lower. On the flipside, only a break above 23.6% fib level will push the price to the upperside.
Trade Recommendations:
Expect a possible momentum towards 50.0% fib level.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
