EUR/USD technical analysis: Support forming at the 61.8% golden ratio Fibonacci area
|- EUR/USD is trading 0.09% lower today just under the 1.10 psychological support.
- Measuring the last impulse wave higher the price has now found some support at the 61.8 Fibonacci zone.
EUR/USD Daily Chart
EUR/USD has been on the decline over the last couple of sessions but has been under pressure since 4th November.
The 61.8% Fibonacci level holds just under the 1.10 psychological support at 1.0995.
It is not shown on the chart but if this is the start of a wave 1 and 2 Elliot wave move higher then the next Fibonacci level 76.4% is at 1.0950.
If both the support levels get taken out then the main support low will become the low on the chart of 1.0879.
From a candlestick perspective, yesterday's candle was a Doji. This shows significant indecision and the high stands at 1.1020.
If this gets taken out we could have a bullish scenario.
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Additional Levels
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