Expect a possible momentum towards 50.0% fib level. | 29 Maret 2021

29 Maret 2021, EUR/USD

Expect a possible momentum towards 50.0% fib level.

Wave Analysis

During the previous trading week, euro broke below 1.19580 and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below 1.19580, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of a correction to the lowerside and should breakout below 38.2% fib level towards 50.0% fib level and could breakout much lower. On the flipside, only a break above 23.6% fib level will push the price to the upperside.

Trade Recommendations:

Expect a possible momentum towards 50.0% fib level.

Bob Stan
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