EUR/USD Morning Technical Report 21/8/2014
ecPulse
2014-08-21 09:38AM UTC
The pair dropped sharply in the past three days approaching 61.8% correction at 1.3230. In fact, the mentioned level is significant, and despite that further bearishness is expected, we do not want to risk today the inappropriate Risk/Reward Ratios in light of approaching the referred to Fibonacci support.
Hence, the selling positions are good and we will close most of them today around 1.3230 - 1.3220 waiting for new confirmation signals. Breaking 1.3230 and stabilizing below it could extend the downside move further.
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