The EUR/USD advanced near 100 pips with the European opening, as 1.2920/30 Fibonacci area, seems an attractive buying level: in the area, the pair has the 61.8% retracement of this year fall, along with the 38.2% retracement of its latest leg up, and as long as above buyers will remain in control. However price found some selling interest around 1.3050 current daily high, and retraces back to test a short term descendant trend line broken earlier today currently around 1.2995. If the level holds, another round of buying will come to play, aiming to retest the 1.3050 mentioned highs.
On the other hand, market has been pretty much lead by sentiment this week, and stocks are under pressure across the board, with local share markets in red and US futures pointing for a negative opening: below 1.2980, the pair will then attempt a retest of yesterday’s low and mentioned Fibonacci support area around 1.2920/30.
View Live Chart for EUR/USD
On the other hand, market has been pretty much lead by sentiment this week, and stocks are under pressure across the board, with local share markets in red and US futures pointing for a negative opening: below 1.2980, the pair will then attempt a retest of yesterday’s low and mentioned Fibonacci support area around 1.2920/30.
View Live Chart for EUR/USD
