How High Can You Go?
How high can you go?
EUR/USD
Yesterday, the EURUSD was losing power to go upside. The pair opened at 1.5842 but closed at 1.5778, forming a hammer formation on the candle chart. Remember, the last time EURUSD made a reversal about 560 pips (from 1.5904 to 1.5341), it formed a doji a day before (see Chart #1). Immediate support is still at 1.5558 (23.6 % Fibonacci retracement from 1.4450 to 1.9504).
EURUSD Daily Supports and Resistances:
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- S1= 1.5720
- S2= 1.5662
- S3= 1.5600
- R1= 1.5840
- R2= 1.5902
- R3= 1.5960
So, EURO! How high can you go?
FX Instructor LLC
www.fxinstructor.com
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