EUR has bounced back from the fibo level at 1.2915 and currently is trading around support of 1.2850. We are in a quite interesting technical situation. 1.2850 is a serios support level, breaking below have to take us far more down, breaking above that again will be hard too. Technically breaking of 1.2850 will take us at least 150 pips down to 1.2700, downside may extend even to 1.2620. One of these both has to bounce and the price will reverse to the upside reaching 1.3000 once again…

Another day - another fall, deeper and deeper we go and seems there is no end. First test of 1.2850 was unsuccessful, there was only about 30 pips pullback for now and maybe another test will follow today, breaking of 1.2850 will lead us quickly to 1.2730-1.2700. Weekly indicators are negative and heavily point to the downside with first target 1.2760. Daily indicators show that soon a correction will follow. H4, H1 and smaller frames show that correction is trying to begin. The correction…

EUR performed a flat consolidation within a narrow range yesterday and tested once again support 1.2940-50 but quickly recovered showing that around 1.2950 there are a lot of buyers. This morning we have a jump higher reaching the MA200 on H4 @ 1.3025. breaking above that MA200 will take us to 1.3070. However further upside today will be difficult and is very possible the price to reverse this afternoon back to 1.3000. Daily and H4 indicators are bullish, smaller too, just H1 is bearish at…

EUR dropped down on Friday as the second test of 1.3190 was unsuccessful. In fact i was expecting a fail a little above and making a double top. Currently EUR has stopped at the 1.2960 support but the downside pressure is still too strong on H4, indicators on H1 show a close recovery to 1.3020 and drop again to 1.2950 at least. The target will be 1.2860 area, where is the diagonal support line starting from in 1.2050. I think it will bounce this time too, so go long close to 1.2860 and…