On the weekly timeframe, Price broke through the 1.400 level with a strong bearish momentum candlestick and then formed a shooting which rejected the EMA's and the 1.400 level. This means that perhaps there is a bearish outlook for the week ahead.
Using the fibonacci tool, one may see that on the daily and 4 hour timeframe that price failed to break past the 1.400 level and the 0.5 fib level; the -0.27 fib extension lines up perfectly with the weekly support so this would be the first area that we hope for price to reach the following week to come ahead. If this level is broken then we shall see price head to the 1.36 region
Also, keep an eye out for the 1.38 region as price respected this level many times in the past.
Using the fibonacci tool, one may see that on the daily and 4 hour timeframe that price failed to break past the 1.400 level and the 0.5 fib level; the -0.27 fib extension lines up perfectly with the weekly support so this would be the first area that we hope for price to reach the following week to come ahead. If this level is broken then we shall see price head to the 1.36 region
Also, keep an eye out for the 1.38 region as price respected this level many times in the past.