From the previous post EURUSD has not been able to break above 11880 (50%=12092-11670) and has now breached 11660
and current low of 11616, 6 pips away from 1st price zone 11610-11560.
Lower prices are likely probable and 2nd price zone 11420-11380 could be the next stop, however
there are a couple of price relation that could potentially stop this downside:
1. price currently at 11616= XA=11660-12092, B=11837, C= 12005, D= 11616(113%=11605)
2. AB=12092-11837=CD=12005-11616(162%)
3. AB=11880-11731= 11858-11616(162%)
4. AB=11858-11725= 11836-11616(162%)
5. XA=11670-11880, B=11731,C=11858, D= 11608(127%)/11534(162%).
BREAK BELOW 11530-11500 THEN 11420-11380, however price consolidation between 11616-11720, break above 11720 then upside resistance
11720-11780/11800-11880/11930-11970/12030-12050.
and current low of 11616, 6 pips away from 1st price zone 11610-11560.
Lower prices are likely probable and 2nd price zone 11420-11380 could be the next stop, however
there are a couple of price relation that could potentially stop this downside:
1. price currently at 11616= XA=11660-12092, B=11837, C= 12005, D= 11616(113%=11605)
2. AB=12092-11837=CD=12005-11616(162%)
3. AB=11880-11731= 11858-11616(162%)
4. AB=11858-11725= 11836-11616(162%)
5. XA=11670-11880, B=11731,C=11858, D= 11608(127%)/11534(162%).
BREAK BELOW 11530-11500 THEN 11420-11380, however price consolidation between 11616-11720, break above 11720 then upside resistance
11720-11780/11800-11880/11930-11970/12030-12050.
