A Look at EURUSD & The Fibonacci Queen
Here’s a couple of different looks at the most widely traded currency pair:
In the top chart we see a daily chart where the Monthly Pivot Points look to be supportive of a move up toward R2 or 1.46.00 should price clear the June high at 143.40.
Below that we have a weekly chart where we see a bull flag in March and April and then a horizontal channel which started in May and is still in place. Again we see the significance of the May high, as a close above that level could launch a rally w/ an objective based on the channel of approx. 1.50.
And then we have a short-term look at le Euro from Carolyn Boroden, aka The Fibonacci Queen, who is a Fellow with us at Trading-U:
http://clicks.aweber.com/y/ct/?l=JBhuW&m=1axUPR7P_ddpIL&b=tMqldvGJ5G6EqTrPniAAyQ
Jay Norris
DISCLAIMER: Futures, options and Forex (off-exchange foreign currency futures and options, or “FX”) trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures, options and Forex may fluctuate, and, as a result, clients may lose more than their original investment.
An excellent analysis by Carolyn Boroden via her Fibonacci Queen web site. She certainly has confidence and sound knowledge in here Fibonacci studies and this comes across – very much so. A real credit to her TA skills. Refreshing indeed.
(Ascot, UK)