Daily
Monday has proved that the quotes fixed above the correctional level of 50.0% - 102.76 Fibonacci. Thus, today we can suggest two variants: as the rate is still close to 50.0% level and if the quotes do not fix below the correctional level of 50.0% Fibonacci, the growth may extend towards correctional level of 61.8% - 104.80. If the rate fixes below 50.0% of Fibonacci, we may see a fall towards Fibonacci 38.2% - 100.71. Bearish candlestick formation will enable the quotes fixation below Fibonacci 50.0%.
4h
On 4H time frame the pair began a modest rebound towards Fibonacci 100.0% - 101.61 after Harami was formed. However, the next bullish formation Harami indicates that there may be a reverse to the good of the euro. Thus, the rate growth may continue towards correctional level of 161.8% Fibonacci – 106.26. Building of another bearish candlestick formation may signify quotes reverse towards the Japanese yen and a slight rebound towards the correctional level of 100.0% while bullish candlestick formation will enable a quotes growth.
