Blake Morrow’s Chart of The Day – Forecast EUR USD
Forecast EUR USD
While the EURUSD is below the 1.1500 level previous support (and March 2020 spike highs) the EURUSD is at risk of testing the 1.1350 level which is still about 100 pips away. Keep in mind the RSI is not oversold, but if we do trade to the 1.1350 level the risk may be for the bounce since (I am going to assume here) the RSI may be divergent at that time suggesting a bounce at the key 161% “Golden” Fibonacci extension of the March 2021 lows to May 2021 highs.
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