EUR/USD fell a further 100 pips on Friday, edging closer to the target we spotted two weeks ago today http://clip2net.com/s/6DmpC0 .
Fibo fans are going to love where Friday’s Low occurred and certainly there’s decent support at that level, suggesting the Bulls may like this as a Buy area. An untested Daily Pivot would add weight to that argument short term. Our Pivots are pointing South however and let’s not forget the beautiful confluence at 1.3450, which still has ‘come get me’ written all over it.
The Day Ahead
Martin Luther King day (therefore Bank Holiday) in the States so no trading due to expected poor liquidity and irregular PA.