We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing. By Kenny Simon Forex Nov 12, This article has already been saved in your Saved Items. The move from X to A , one may argue that it may not have been a clean enough move due to some corrections as you could see on the Chart above.
However, hence the reason to confirm with your Fibonacci dragging it from X to A as shown below. It brings out a more positive outlook knowing that one of the levels is the The next confirmation needs to follow by dragging Fibo Retracement from A to B to ascertain where point C lands. This another piece of good news.
Due to the fact that the downtrend may well persists we are looking at a potential target at the However, based on this scenario, clearly the Euro is on a strong bearish trend which could be the driving factor of a further fall past the The following Price Range on the chart is marked by the Horizontal Lines in purple as well as major support and Resistance lines marked by the horizontal red lines as shown in the charts above and below.
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