Do we break out and set Fire to the Dollar???
Target tomorrow: 1.40 = 1.618 fib extension of today's swing. Other scenario is back to 1.382 = 1.618 fib extension in reverse = 0.618 fib 1.492 H / 1.204 L
1.382 plus a little above and below is a very important S/R zone; look back @ 1995!!
It is also the zone where the Euro was meandering in the past weeks.
1.40 = Slightly overbought (RSI 14) @ Daily and breaks the upper line of longterm resistance
1.42 = Starting to be overbought (RSI 14) on the Weekly and could be the target for the end of the week
1.424 = 0.764 fib 1.492 H / 1.204 L
This 1.38 - 1.42 range can also form a massive pinbar on the weekly for the "south" scenario.
Target tomorrow: 1.40 = 1.618 fib extension of today's swing. Other scenario is back to 1.382 = 1.618 fib extension in reverse = 0.618 fib 1.492 H / 1.204 L
1.382 plus a little above and below is a very important S/R zone; look back @ 1995!!
It is also the zone where the Euro was meandering in the past weeks.
1.40 = Slightly overbought (RSI 14) @ Daily and breaks the upper line of longterm resistance
1.42 = Starting to be overbought (RSI 14) on the Weekly and could be the target for the end of the week
1.424 = 0.764 fib 1.492 H / 1.204 L
This 1.38 - 1.42 range can also form a massive pinbar on the weekly for the "south" scenario.