Blake Morrow’s Chart of The Day – Fibonacci Retracement
EURUSD
The EURUSD put in a false breakdown a couple weeks back, and with a dovish FOMC Chair Powell, the EURUSD is at risk of a move above the 1.1810 resistance. This is also the 50dma so a break above this level would put the longer term 38% Fibonacci retracement and also the 161% extension of the last move lower as a target just below the 1.1900 level.
Blake Morrow
