The pair broke a strong support who now is acting like resistance, this resistance is between the 50 and 61,8% of the retraction of the first moviment, is a nice area to sell.
The projection for the next down moviment using the AB=CD theory is arround 103.00
After breaking the last valid high the pair have brooke the down trend line and now is retractig near the best Fibonacci area to buy orders. If confirmed by patterns or pivots in lower TFs he will probably make a new up wave. The target is the lenght of the first up wave.
Hello traders, the EURUSD is completing a clear down pivot. Analising the pair we can see a nice head and shoulders formed with the neck line already broken. The target for the next down moviment is near 1.140.
After broke the down trend line the pair completed the 1th and 2th wave. The 3th one already done more than 161% of first wave, its time for a retraction. I'm waiting reversal confirmation at the painted area.