KQMarkets
Short

Short EURUSD Short broke key Fibonacci support level

FX:EURUSD   Euro / U.S. Dollar
On our analysis of the 17.03 we were waiting for EUR/USD to drop below the Fibonacci level support level at 1.11109 before taking further profit. Effectively EUR/USD dropped to the Fibonacci level at 1.11076 and we took some profit but the currency pair is now back trying to consolidate at the Fibonacci resistance level at 1.1163 so we will see how the market develops from there whilst keeping our long term short view.
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