Euros took all day to trade lower but they did and came to 1.2927 which was near enough our 1.2920 support..We have seen a small correction back to 1.2958 which is the first short term Fib level...60 min charts have turned bullish leaving room today again for a small correction higher...1.2980 would be our target if above 1.2960. Sell here looking for another move lower.

Cover shorts towards 1.2935. We would then only re-sell if we managed to break 1.2920. A loss of this support will take us lower and we would be looking at the weekly level of 1.2808 as a realist target for the next 2 days.

Shorter term we have 1.2895 and 1.2835, but whatever, the market will try and find its way to the weekly level of 1.2808 . Here we would advise covering all shorts as this is quite a major trendline support..

If above 1.2980 we have 1.3015 to 1.3045 and this is looking to be the to of any short term rally.

SUPPORT
1.2952/45
1.2920
1.2895
1.2835
1.2815/08**
1.2795
1.2755/50
1.2730
1.2710
1.2675

RESISTANCE
1.2970
1.3015
1.3045*
1.3080/85*
1.3128
1.3140/45
1.3170/72*
1.3225
1.3240/45
1.3280/90

 

SHORT TERM FIB
23.6   1.2958
38.2   1.2981
50      1.3000
61.8   1.3018
76.4   1.3041


MED TERM FIB
23.6   1.2914
38.2   1.2742
50      1.2608
61.8   1.2474
76.4   1.2304





 

 

 

The article was first published by CharmerCharts