FX.co ★ EUR/USD

The currency pair EUR/USD still managed to test the key level of 1.15800, but this was done exactly at the weekly close. Now we can only wait for the new week and see where the price will open; it’s possible that they will start breaking this level right away in the Asian session. Overall, this won’t be a problem for sellers, since euro/dollar has entered the sell zone, so I now recommend taking only short positions. The 23.6% Fibonacci level (1.16350) is relatively close by – Fibonacci levels are very strong right now, as shown by the bounce from 38.2% (1.13550). This level now serves as a target for sellers in the coming weeks. If buyers start breaking through 23.6%, this could completely change the market structure to a bullish one. I recommend trading from the levels indicated.