With dovish FOMC tone being announced, EU spiked up to 1.145ish, which is about 50% fib level. Overall the tone is still bearish for euro, and we are expecting a mid-term trade to close the gap at 1.08 level. Still, weekly shows a bullish divergence on RSI, but the long term trend is still bearish.
Comment:
We are in a range between fib 0.618--0.5, let's see which side breaks first