Fibonacci Stalking

Hello traders,

please find attached hereunder my video-review for today:

the first target level for the short trade initiated at 1.3080 resistance area has been reached yesterday at 1.2990. That area did not offer participation from professional traders and program trading, as we were expecting, and yesterday price went down to a low at 1.2957. This morning (EU session open) after a brief reaction higher price continued on the downside and violated the important threshold level at 1.2953.

Below that level the Euro confirmed the target of the current swing at 1.2830. In this area I will remove my short position and we will need to verify whether the next leg higher will start from that point or whether the Euro will be able to move lower into 1.2620-30 (I start doubting that).

Today is FOMC day and the FED meeting always brings in volatility. However the outcome of the meeting…

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