Upward movement can reach the levels of 1204.00-1207.00.
The price has broken down the arc 500% for the short-term downtrend and is now trying to reach Fibonacci retracement 23.9% at the level of 1179.88. The key targets of the “bulls” are 1185.10-1185.50. This is the area where the price can intersect with the arc 61.8% for the short-term and medium-term trends. Breakdown of this zone will enable the rise in the pair to 1204.00-1207.00, that is an area of strong resistance, since there, Fibonacci retracement levels for the both trends (short-term 61.8% and medium-term 23.6%) will coincide.read more >>