CapMoore

EURUSD DAILY STUDY

FX:EURUSD   Euro Fx/U.S. Dollar
203 0 3
Price is attempting to break out below the Yearly Pivot Point after a failed run at Yearly R1
and the 61,8 fib of the CD leg of large ABCD has held as solid resistance.. A long consolidation
phase might be ending and with that perhaps new highs on the equity markets and a deeper
correction in E/U or even a reversal. 1,3515/28 was a strong fib confluence
(in connection to this large ABCD) and it has now been breached. 1,3393 is the 38,2 fib of CD leg
and also previous tops/bottoms, thus a strong support zone . How price behaves here, if it reach
this level, will reveal the strength of Bear Power.
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