The chart shows the movement after this week€™s high 99.66. As you can see the fall is very sharp but I think that it is corrective in nature. If I am right one should expect a recovery of at least 61.8 % retracement (the corresponding level is 98.48) before eventual new fall. A key resistance is the high 99.66. A key support is today€™s low 96.57

Trading strategy: 09:54 EST; 14:54 GMT

Sell again on recovery to 98.48, stop loss - 99.75, target - open

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.