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Don’t Get Lulled to Sleep by the Tiny EUR/USD Moves

Nadia Simmons

Although EUR/USD moved down a bit earlier today, the green support zone coupled with the 61.8% Fibonacci retracement continues to hold declines in check. Let’s recall our yesterday’s comments as they’re also valid today:

(…) EUR/USD has indeed tested the above-mentioned downside targets, triggering the interest and involvement of the bulls. As a result, the exchange rate has bounced, suggesting that a similar rebound to what we saw in mid-November could likely be ahead of us.

If that’s the case, the bulls could push the exchange rate to the lower border of the grey declining trend channel once again in the coming days.

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Thank you.

Nadia Simmons
Forex & Oil Trading Strategist
Sunshine Profits – Effective Investments through Diligence and Care

This article was originally posted on FX Empire

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