EURUSD Update: Jan 4, 2013

EURUSD is approaching the critical bottom of a large rising wedge, after having maxed out at the .618 time Fib and .886 price Fib.

Daily RSI indicates a break down of the wedge.  But, watch out for the mid-line of the forming white price channel.  It could put a floor under the pair’s decline around the .886 of the red grid.


EURUSD Update: Jan 4, 2013 — 2 Comments

  1. Are you expecting a bounce for EUR when it hit the blue box target, then further down? or no more down after it hit the target?