1HTF EURUSD paints an interesting picture. The Euro created a new lowest low since January of 2017 at 1.09227 against the USD. The price has since retraced but failed to break the 61.8% Fibo resistance at 1.09633 for the second time, following worse than expected US Initial Jobless Claims.
Currently, the main focus of attention for the pair is yet another impeachment attempt for the president of the United Stated Donald Trump.
In a more likely scenario, the price will not surpass the 61.8% Fibo resistance at 1.09633 and will continue moving down. Target areas down are going to be at 38.2% Fibo 1.09478, after that 23.6% Fibo at 1.09382 and then the newly created lowest low at 1.09227.
If there is a political breakthrough that brings the USD sharply down, we’ve marked a few key areas of resistance at 1.09693, then 1.09793 followed by 1.09875.
Currently, the main focus of attention for the pair is yet another impeachment attempt for the president of the United Stated Donald Trump.
In a more likely scenario, the price will not surpass the 61.8% Fibo resistance at 1.09633 and will continue moving down. Target areas down are going to be at 38.2% Fibo 1.09478, after that 23.6% Fibo at 1.09382 and then the newly created lowest low at 1.09227.
If there is a political breakthrough that brings the USD sharply down, we’ve marked a few key areas of resistance at 1.09693, then 1.09793 followed by 1.09875.