FX.co ★ 101Goldhunter | EUR/USD (part 80)

EUR/USD (part 80)


On the H4 time frame, the pair has completed a technical correction at the minimum Fibonacci level of 38.2%. it means that the price is about to start a second descending wave. But this will become clear only after the price moves below the 0.0% Fibonacci level. I think that on H4, the formation of the third downward wave is possible.

See also: InstaForex is one of the leaders in the Forex market, 12 years on the market, more than 7,000,000 active clients
EUR/USD (part 80)

The approximate range of the downward movement can be calculated according to the length of the first wave and the current upside pullback. It will be around 1.800 or 1.700. If the price goes to 1.800, it will pass the maximum fibo retracement in the coming days. The movement below 1.700 will signal the beginning of a technical correction on the pair in a few weeks. This may indicate a trend reversal.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Read this post on the forum Open trading account