EUR/USD price structure the way I see it right now. Price movements in the next while will have long term impact.
Personally, I think that 0.382 fib level from the MAY2014 highs to the most recent JAN2017 low is a key area and will result in weakness. I plan on entering a short position tomorrow to test the waters - see the 15 min chart attached below. The other weekly and daily charts are added below as well for a more complete picture.
Weekly
Daily
On the daily we have an ascending wedge, probability is to break to the downside.
Personally, I think that 0.382 fib level from the MAY2014 highs to the most recent JAN2017 low is a key area and will result in weakness. I plan on entering a short position tomorrow to test the waters - see the 15 min chart attached below. The other weekly and daily charts are added below as well for a more complete picture.
Weekly
Daily
On the daily we have an ascending wedge, probability is to break to the downside.
Commento:
On the 15 minute, price is respecting an ascending channel. Price can reach the fib level sometime on Tuesday even if it respects the channel and stays inside it.
I think it's wise to factor in the possibility of a huge price surge up as well.