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Here’s a simple look at my 4 hr chart where I only have my trendline and fib levels showing. The fact that we have the 61.8 fib level syncing up perfectly with a nice round price level like 1.3000 shows that we are at a critical level (I believe) for the euro. For 9 days Read more EUR/USD Ready to Breakout Well last week I posted the graphic showing how the 50 fib level provided resistance to the strong rally we were seeing all week and reminded everyone of the powerful tool that fibonacci levels are to trading. Well now the next level up, and one of the most crucial levels to know about, 61.8 has I failed to realize this yesterday, so here is an actual image to show that the recent stall in this most recent rally occurred right at the 50% fib level on the daily chart from this year’s April to May swing high and low. This is why you need to know how to use fib.’s The Euro reached a 2-month high after breaking above 1.2700 and continuing up to 1.2737 reaching the highest price since May 12. As I write this, my smaller time frames (hourly and 15 min) show extreme overbought conditions and it’s a safe bet that we will see the EUR/USD trigger some bearish corrective movement now Read more EUR/USD Gets Extreme |
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