fxwaleed

3 September EURUSD Fibonacci + Heatmap Analysis (updated)

FX:EURUSD   Euro / U.S. Dollar
EURUSD             is on a downtrend
High@27-08-2015 06:00:00
Low@28-08-2015 15:00:00

01-09-2015 21:00:00 open price was at 96% probability to go down line
The pair so far retraced to Fibonacci 0.764 level which corresponds to 96% probability to move down
The pair moved to Fibonnaci 0.382 which now has a probability of 75% of moving up
The pair broke below Fibonacci 0.382
The pair currently is heading to Fibonacci 0.236 level which has a probability to 92% to move up

A break below the support area around 94% to go up line @1.12003 and 98% to go up line @1.11821 would indicate further continuation of the downtrend move to Fibonacci 0.0 level and probably to Fibonacci extensions.

A break out of the channel above 94% to go up line would indicate a swing between 94% line and 50% line

50% up / down probability line is @1.2545

Current status: moving inside the channel for a bearish outlook

Comments are greatly appreciated, please share your ideas with me in the comments section :)
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