FxRetrance
FxRetrance Aug 01 2016 at 13:52
This week Eurusd analysis
Euros standing tall against dollars breaking 50.0%FR level (1.1066). Dollar loosing the ground later FED kept interest rate unchanged last week also giving a clue as not keen on increasing the interest rate in September. The break out signifies the end of correction however, 50.0% to 38.2% FR level (1.1196) to remain neutral zone expectation of bulls to add only after the successive break out of 38.2% & further it could lead to 23.6%FR level (1.1356) Since the pair in consolidation mode in D1 chart, trading the channels (see chart) could be appropriate.

Note: If Euros closes today above 38.2%FR level treading the channels cannot be appropriate and the bulls could further lead to 1.1369 or 23.6&FR Level