EURUSD Short Looking to break key Fibonacci support level

May 17, 2019

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EURUSD Short Looking to break key Fibonacci support level by KQMarkets on TradingView.com

Commentary

On our analysis of the 14. 05 we advised that we were still short despite the currency pair rising towards 1.125 and were looking for the Fibonacci level of 1.11955 to break before taking some profit.

This has effectively happened and we have taken profit and now that EURUSD has crossed the next Fibonacci level at 1.1163 we will look towards the currency pair dropping below the Fibonacci level at 1.11109 before taking further profit.

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