Current rate – 1.10617 (%change) – (-0.59%)
Day range – 1.1055 / 1.1135
As we seen on the chart above EUR/USD is sliding slightly down from 78.40% fib level to 50.00% fib level with barely break in the recent level which is the 50% fib as we said, meanwhile there we can located the previous high as we marked it with the yellow cloud’s. We can not treat this as a consolidation period, because it didn’t break out between three main level’s, so the current level matches the previous high and could say that is it a correction move before the downtrend continuous. This level is testing the support before next move’s for the EUR/USD.
For trader’s that they are anticipating in the trade, maintain tight stop losses and pay attention for the further Fundamental’s coming on.