The price retraced to the fibo 71.8% at 1082.6 (marked in daily candles from 1025.6 to 1227.9). Not that it regained 1100, the next goal is breaking the last lower high, closing the daily candle over 1116. In that case, this week, or already in January, the price will seek 1140. In the way, the intraday level to take into account is 1118.7. From the one hour chart, the 200 days MA are crossing with the 50 days MA, hinting a possible trend shift. To confirm that, it must to the same with the 20 days MA.On the other hand, if the price doesn't climb up to 1112.7, we could witness a selling of the pair, sliding down again to 1100.
Forex Trader Library
Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.