savvyacademy
Long

EURUSD - Temporary Setback for Bulls

FX:EURUSD   Euro Fx/U.S. Dollar
With the bullish trend since Aug 2015, Sep 18 saw a tag of war between the Bulls and Bears with the Resistance zone (1.1432 - 1.1465).
  • Punters cashing in profit gained from US Rates Announcement from yesterday (17 Sep), which happened to be around Fib extension 200% on 1 hourly chart.
  • Short Term Bulls profit taking at Fib extension 127% at Point D
  • Long Term Bears may have jumped in early before 61.8% near Point D.

With the bearish sentiment set on 18 Sep, 1.12 and 1.15 might be the next Psychological support and resistance respectively.
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