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The EURUSD achieves extended targets – Analysis - 13-03-2020
The EURUSD pair consolidated above 1.1050 level after the strong decline that it witnessed yesterday, reminding you that this level represents 61.8% Fibonacci correction for the last bullish wave, to head towards starting new bullish wave, on its way to visit 1.1325 followed by 1.1457 levels as initial positive targets.
Therefore, the bullish trend will be expected for the upcoming period, supported by stochastic approach from the oversold areas, taking into consideration that breaking 1.1050 and holding below it will press on the price to return to the main bearish channel that appears on the chart and achieve additional negative targets that reach 1.0947 followed by 1.0778 levels.
The expected trading range for today is between 1.1136 support and 1.1325 resistance.
The expected trend for today: Bullish
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End of day analysis for Crude oil 12-03-2020
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MoreEnd of day analysis for the EURUSD 12-03-2020
The EURUSD pair traded with strong negativity to achieve our second target at 1.1136 and touches 61.8% Fibonacci correction level, noticing that the price bounced upwards quickly from there to settle above the previously breached resistance of the bearish channel, to hint the price head to resume the main bullish trend, and we need to monitor today’s close to confirm the next destination, as consolidating above 1.1050 will lead the price to achieve positive targets that start at 1.1325 and extend to 1.1457.
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