The EURUSD gor rejected from 100% fibonacci level near 1.1880.
at the moment the pair retraced to trade near 61.8% critical level if broken and we witnessed a 4hrs candle close below 1.1820 we might see further momentum for the downside.
potential finishing a W,X,Y wave might take euro dollar to new lows belo 1.1600 level.
lets not forget the bearish monthly candle from last month " engulfing pattern".
no doubt that the ranging market was taking over the markets recently however an impulsive wave is expected soon.
at the moment the pair retraced to trade near 61.8% critical level if broken and we witnessed a 4hrs candle close below 1.1820 we might see further momentum for the downside.
potential finishing a W,X,Y wave might take euro dollar to new lows belo 1.1600 level.
lets not forget the bearish monthly candle from last month " engulfing pattern".
no doubt that the ranging market was taking over the markets recently however an impulsive wave is expected soon.