Eurusd has come down to the Neckine and broken through. Looking for a target at 1.3699 if it can continue the downward momentum. The 1.3782 is a barrier but if brokes should see the move to the 1.3699 support and the eventual targets of 1.3575-48 are ( 0.382 Fibo and the S6)
Eurusd has come down to the trendline as suggested yesterday at 1.3840 and bounced here. As long as we stay above the 1.3827 area it is bullish for the cross. We have which was also strong resistance at the 1.4100 area which would also be a double top which is the next target. We have seen an attempt to break .1.4158 to the upside and so far it has failed. The 4.236 Fibo has been taken out however, which leaves a strong possibility for one more push to the top and then
We have seen several attempts to break .9900 and failed. This close to historic highs near 1.0 will look for the next leg to test that price level. Currently approaching the critical area for the retracement. A bounce up is possible all the way down to the trendline and that will keep the up trend intact and we will look for an initital move to the 0.9994 and the R4 @ 1.0007 with a further target @ 1.0033. The downside risk is @ .9832 where the R1 is.
FOMC caused a spike up yesterday but we have topped out with a lower high indicating the downward move is still intact. Currently approaching the critical area. A break of the trendline to the south keeps the downtrend intact and we will look for an initital move to the S3 @ 1.3870 with a further target @ 1.3781. Upside risk is a move to the top again.