Price is capped between 3200 and 3000.
For the shortterm the EURUSD looks heavy. After the sell off last week...the EURUSD retraced up around 61.8% and is looking to continue the move further down.
If we can clear 3000 we can find interim support at 2950-2970.
The move down could be seen as a retracement of the move up (indicated by the fib)...as long as we stay above 2900/2950
if we pushed beyond 2950, 2900 could be the game changer (around the 200DMA)
As long as we stay above the 200DMA and 1.3000.. its still possible for the EURUSD to move towards 1.3220 into the 1.3300
An alternative scenario is....we just move sideways between 1.30 and 1.32.
For the shortterm the EURUSD looks heavy. After the sell off last week...the EURUSD retraced up around 61.8% and is looking to continue the move further down.
If we can clear 3000 we can find interim support at 2950-2970.
The move down could be seen as a retracement of the move up (indicated by the fib)...as long as we stay above 2900/2950
if we pushed beyond 2950, 2900 could be the game changer (around the 200DMA)
As long as we stay above the 200DMA and 1.3000.. its still possible for the EURUSD to move towards 1.3220 into the 1.3300
An alternative scenario is....we just move sideways between 1.30 and 1.32.