EURUSD was rejected b 78.6% retracement of 1.1780 sending
price to the downside. Price is currently at both Monthly
Support and 61.8% retracement of 1.1650. If this 61.58% level
holds and the correction is complete, price will rebound to
the upside with a FIB D1 Extension target -27.00%.
However, a Break of the monthly support zone will argue
that bears are still in control of the market launching price to
its daily timeframe support zone of 1.1570.
price to the downside. Price is currently at both Monthly
Support and 61.8% retracement of 1.1650. If this 61.58% level
holds and the correction is complete, price will rebound to
the upside with a FIB D1 Extension target -27.00%.
However, a Break of the monthly support zone will argue
that bears are still in control of the market launching price to
its daily timeframe support zone of 1.1570.