So am I…Well after the dive bomb courtesy of mad Super Mario yesterday, i guess everyone’s saying ‘ where to now’…
It’s not a coincidence the fall stopped at the 1.2945/50 which equates to the 38.2% fibonacci retracement of the recent 1.2661-1.3127 rally , but if we breach that level the next major tech support comes in around 1.2900/15 ( 1.2906 would be the 76.4% of the bigger 1.2042-1.3173 rally starting back in July 24) which includes the 55 day MA at 1.2915. ( I’d Suggest there will be some sell stops through 1.2940)
Offers now look in place up at 1.2980/00 (which houses the 10 day MA at 1.2996), possible buy stops just above ahead offers in the 1.3015/25 zone, (where sell stops went through yesterday afternoon and likewise at 1.3035/45). Short term traders may well buy back shorts at these levels if broken.
EUR/USD’s currently sitting around the daily ichimoku cloud top at 1.2960
