The pair tested 38,2% Fibo level, which is on 1,10647. The breakthrough didn’t come true. Before the pair continue to fall down, the short correction is possible. The pair may bounce back to the level 1,11000. 4H TF 1. Williams %R has left the oversold zone 2. Parabolic SAR reversed 3. MACD lines are close to intersect each other The target for the price is 38,2% Fibo level or 1,11012
Fundamental analysis The key event for Friday in the US economy is Michigan consumer sentiment, which is published at 3 p.m. GMT