The price continued to fall while the RSI (14) has drawn higher lows. Divergence plus 1.3400 (round number level) could trigger a correction. For the moment 1.3450 is my first target. I am still waiting for confirmation for the bounce. By the way, have you seen that the lows are closer to the channel's trend line? :)
1 h , 4 h, D - RSI over sold ? What's next ...? :-/
Tope
⋅
Ravzan, could you please give us a good support level to setup a trade?
Razvan
⋅
Hello, sorry for answering so late, I was waiting for the GDP release. At this point EURUSD will go lower than I expected. The US GDP was published unexpectedly 4% (est. 3.1%)...it is a wow for me :) I will come back with a new analysis after the price will settle down.
AdrianRotaru
⋅
I think that area around 1,3380 could be a suitable support for the pair, also Fib 161,8% extension, see daily graphic
Razvan
⋅
It could be :)
AdrianRotaru
⋅
I still belive in support, 1.3380 area
xnedja
⋅
Good idea! 1.3370 can be a floor this fall ? ?
xnedja
⋅
for me 1.3370 is 50% fibo D ( 1.2749 - 1.3994 ) !?
Razvan
⋅
It could break the round number level and spike down towards 1.3370. But if the price will consolidate around 1.34 for a while and then break I would say that the probability favors a continuation to 3350 or lower.