The past week has been a very interesting turn of events for EUR/USD. Some side way trading around the 1.3350 area approximately for 4 days. This price level is of some importance as it is the 50% Fib. retrace on the 1.2750 to 1.40 up move. But also the 50 percent fib level aligns with the 161.8 percent Fibonacci retracement, hence providing additional color to the bullish outlook.
So to conclude if the bottom side Fibonacci levels hold and the 4 hour breakout resistance now turned support holds, bullish sentiment for the pair is very likely and it is well on its path to 1.370, as this will be testing the previous high made on June 30.
So to conclude if the bottom side Fibonacci levels hold and the 4 hour breakout resistance now turned support holds, bullish sentiment for the pair is very likely and it is well on its path to 1.370, as this will be testing the previous high made on June 30.
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