Retraced
Retraced
Euro Fx/U.S. Dollar FX:EURUSD
motleifaul
On August 15th the euro had begun the second stage of its recent rise. This rise has been corrected by almost 2/3. Even the whole August rise has been corrected by almost 1/3.
May be the correction of the whole rise will fulfill the 1/3 but then I don't expect much more.
The reason is the high of August 14th that will be a serious support. It has almost been reached already.
Thus I expect the euro to continue its rise to test the resistance at around 1.1240-50.
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