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EURUSD Positioned in the Fibonacci ‘Magic Zone’, Prepare for an Upsurge!
EURUSD Analysis – The strengthening of the US dollar briefly suppressed EURUSD. According to the H1 timeframe chart, the price corrected into the Fibonacci area and held at the 61.8% Fibonacci level. There’s potential for EURUSD to rise again today.
Today’s Trading Strategy:
- BUY in the Range 1.10680 – 1.10515
- Target: 1.11049 – 1.11380
- Alternatives:
- Consider SELL STOP @1.10515
- Target: 1.10279 – 1.09980
Resistance Levels:
- R1 1.10515
- R2 1.10279
- R3 1.09980
Support Levels:
- S1 1.10680
- S2 1.10515
- S3 1.11049
- S4 1.11380
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