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EURUSD looks to test the 61.8% retracement or the move up from the end of May low

The EURUSD is moving to a new session low and in the process is looking to test that 61.8% retracement of the move up from the May 31 low. The low comes in at 1.08801.On Monday, the price moved below that retracement level to a low for the day of 1.0870. However, the price quickly rebounded and a rotation back higher started. Yesterday the high price stalled just ahead of the 50% midpoint of the same move higher at 1.0955 (the high price reached 1.09517).A move below the 61.8% retracement should... Read More

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Posted: Aug 16 2023, 17:44

Author Name: forexlive

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