FX:EURUSD   Euro / U.S. Dollar
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Presently, I have 3 reasons to share with you, on why the EURO/Dollar may rally. 1st of all, volatility , which is represented on this screen as the grey and green indicator at the very bottom. Is lessening, which is a strong sign that the current trend may be coming to an end. My second point, is the price action has settled in the 3rd deviation channel below the standard price line. This indicates a possible over extension, warranting a retrace to the median average. Also, price actions has provided a Fibonacci extension target, drawn from the second of three downward waves. This is indicated by the pink bars drawn over the second downward wave. In which our Fibonacci target has been reached at 1.6.
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