cfetrader
Short

Euro/USD possible target

FX:EURUSD   Euro / U.S. Dollar
71 0 1
Since August, the Euro/USDollar trend is typically negative, currently developing the last (and more ominous) wave (z.e). Price oscillations are taking place within the "oversold" region defined by the Bollinger bands with parameters (20,2) and (20,1). Probable target is the extended 1.618 Fibonacci level of 1.02588, obtained from the July-August rising wave limits.
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