EURUSD has broken our strong ascending support, potential drop!

2018년 2월 27일

EURUSD has broken our long term ascending support along with falling below our ichimoku cloud. These are all strong signs of a potential drop from here. However, we're seeing major support at 1.2230 which is our 38.2% Fibonacci retracement, 50% Fibonacci retracement, 100% Extension and horizontal swing low support. This level would need to be broken to trigger a potential drop to our next major level of support at 1.2074.

It is nice to see RSI also facing good downside pressure and similarly breaking our of our ascending support-turned-resistance line.