EURUSD possible medium term Fibo pattern
One of possible scenarios IMHO:
– corrective rally to max 50% of last swing down (~1.085 which correlates with the bottom of the broken channel)
– down to OP (100% Fibo extension) = parity
– correction
– down to XOP (162% Fibo extension = ~0.95 -> just below last bottom)
And this will be the end of the next USD rally.
– corrective rally to max 50% of last swing down (~1.085 which correlates with the bottom of the broken channel)
– down to OP (100% Fibo extension) = parity
– correction
– down to XOP (162% Fibo extension = ~0.95 -> just below last bottom)
And this will be the end of the next USD rally.
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