CapMoore

Price Eyeing the 1.3650-80 area

FX:EURUSD   Euro Fx/U.S. Dollar
166 0 1
Price bounced from the 76,4 fib of CD leg, just missing the
Monthly Pivot Point . The completion of the two waves down
is in the 1,3655-80 area, depending on how one draw them.
The lower (blue) channel line marks the bottom of a channel
going back to July 2013             . It is also a line in the sand, for bullish
bias (the more conservative approach points to a taking out
of 1,33 before bullish bias is removed). Technically, probabilities
points to a completion of ABCD pattern and a test of lower
channel border and Monthly PP, before a deeper bounce.
An impulse study of first move down from the top, also points
to this area (1,3650), which is also a previous bottom from
late february.
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