EUR/USD: on the way to test the 1.2160?

EUR/USD: on the way to test the 1.2160?

2019-11-11 • Updated

Bulls are still strong across the board in the EUR/USD pair, consolidating gains above the 1.2000 milestone. So far, there is a corrective move in place that points to break the Fibonacci level of 23.6% at 1.2015, which should give up in order to plummet towards a demand zone established between the 1.1931 and 1.1884 level. Around that area, the next path to follow would be the bullish one, which should target the -23.6% Fibo zone at 1.2163.

RSI indicator remains in the negative territory.

EURUSDH1.png

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