rodrigosmarts

EURUSD 1.3200 Resistance

FX:EURUSD   Euro / U.S. Dollar
943 33 8
EUR is overbought due to the American QE3 news, rising for more than 1000 pips with no decent retraction.
We should stay alert to the 1.3200 resistance area , which could lead EUR to a retracement towards 1.3000 or the rising channel bordar that was broken.

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perfect :)
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Agreed.
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Agreed.
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Followed.
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Comment removed
it seems that your fib is upside down...
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4mm4 rodrigosmarts
its measured from the top down because it is a downtrend. After making a new low, it retraces back up and thats where the 0.618 fib level comes into play. then it bounces off of that and heads back down.......
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yeah, that's why it's inverted! 100 should be on the top... think for a while and it'll make sense
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4mm4 rodrigosmarts
but if the 100 were at the top, then there would be no fib targets for lower lows
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100 is on top, because we are talking about retracement, a percentual of the previous deviation. If the price retraces all the movement back to the top, it has retraced 100%, so that's why 100 is on top..
.belive me :D
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