Forex_Academy

EOS, Fibbo can help.

KRAKEN:EOSUSD   EOS / USD
EOS has been one of the big losers over the weekend and lost -13.81% in the last 24 hours with a current value of $ 12.2 on this 4H chart. The price went through without problems over the 200-100-EMA touching the floor of $ 10.7 very close to S1. A reaction from the buyers is expected and the RSI is ready to eave the oversold zone and appears pointing upwards. We will monitor especially in this pair, the three Fibonacci Retracement Levels of 23.6%, 38.2% and 50% that may occur in the short term because the market drop was due to external factors and not to specific behaviors of the currencies.

Comments

0.5 is a good target IMO
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