TradersClassroom
Long

EURUSD Time For A Bounce

FX:EURUSD   Euro/U.S. Dollar
93 0 2
EURUSD             plummeted last week on the backs of Draghi and NFP. On nearly every time frame we are buried on the RSI which restricts the amount of downside we have left at the current time. We can certainly rally and push further down but I think we are in need of some relief. The pair is current are the 1.618 extension of the latest relief rally. If we use an equal wave length then it takes us almost exactly into the former support level . I think that would be a great place to pullback into and reevaluate from there. Find out more in this weeks Weekend Preview: http://youtu.be/49lHrQWcWKA



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