Euro
The Euro held around the secondary Fibonacci support of 23.6%, which is in the 1.4620 area, and went back up to above 1.47. The "limited" move of yesterday had "limited" effect. We have re-drawn the channel, to make it comprehensive, and to include all the price behavior since the beginning of the month. The bottom of this new channel is exactly at Fibonacci 38.2% support 1.4541, which makes this support a candidate to be the decisive area separating positive from negative territory. As for the short-term , the support is 1.4705, and a break here would initiate a correction for the rise from yesterday's low, ideally targeting 1.4656, the support that if broken would open the road to test the most important support for now 1.4541. Short-term resistance is 1.4756 and breaking it is the key to reach 1.48 for the first time this year, where some targets await us, especially 1.4824 and 1.4901.
Support:
• 1.4656: short-term support.
• 1.4541: Fibonacci 38.2% for the medium-term, and the bottom of the rising channel from the beginning of the month. The most important support for now, breaking it would mean the end of the uptrend for the medium-term.
• 1.4471: Fibonacci 50% for medium-term.
Resistance:
• 1.4756: short-term resistance.
• 1.4824: previous daily high.
• 1.4901: previous daily high.
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A Trend, Volatility and Oscillator combined, the Ichimoku Kinko Hyo is a unique indicator which gives dynamic support and resistance levels, trend direction/strength, volatility levels and clear/precise rules for entry and exit parameters. Combine all those weapons and you have a powerful method for trading the global markets.
In this webinar we will talk about how you can find filtered intraday trending moves, spot upcoming weaknesses in an instrument, and find unique trading opportunities through Kumo Analysis.
Support:
• 1.4656: short-term support.
• 1.4541: Fibonacci 38.2% for the medium-term, and the bottom of the rising channel from the beginning of the month. The most important support for now, breaking it would mean the end of the uptrend for the medium-term.
• 1.4471: Fibonacci 50% for medium-term.
Resistance:
• 1.4756: short-term resistance.
• 1.4824: previous daily high.
• 1.4901: previous daily high.
Company Description
A Trend, Volatility and Oscillator combined, the Ichimoku Kinko Hyo is a unique indicator which gives dynamic support and resistance levels, trend direction/strength, volatility levels and clear/precise rules for entry and exit parameters. Combine all those weapons and you have a powerful method for trading the global markets.
In this webinar we will talk about how you can find filtered intraday trending moves, spot upcoming weaknesses in an instrument, and find unique trading opportunities through Kumo Analysis.
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