WEEKLY OUTLOOK :
Although last week this pair managed to break out from 1.3504 (the Dynamic Support/Resistance provided by the EMA 84), this pair is still in the ranging situation indicated by the EMA 4 (red) being between the EMA 21 (Blue) & the EMA 84 (Green) and the RSI(13) still in the 40-60 level area. There is a possibility that the EUR/USD will test the 23.6% Fibonacci Support at 1.3533 as the first target and the 38.2% Fibonacci Support 1.3475 as the second target. If the pair hits 1.3475 afterwards, it might reverse up. Again, the situation will change back to bullish, and this pair will try to reach 1.3684 as the first target and 1.3841 as the second target. BUT if this pair hits the fibonacci Support 38.2% at the 1.3475afterwards and still goes down and can easily break out and close below the 50% Fibonacci Support at 1.3430, it is expected to decline to the Fibonacci Support 61.8% at 1.3389 as the first target and the 78.6% Fibonacci Support at 1.3324 as the second target.
