EURUSD
The Euro moves in the fourth corrective wave, after the third wave off 1.3550 higher low, met its 100% Fibonacci expansion at 1.3680. Corrective pullback should be ideally contained at 1.3620 zone, equivalent to the length of the second wave, near 50% retracement of 1.3550/1.3682 upleg and broken bull-trendline off 1.3738, to keep immediate bulls intact. The fifth wave is expected to travel to its initial target at 1.3740, 138.2% expansion and previous peak of 24 Jan, above which to open significant 1.38 resistance zone. Alternatively, slide below 1.36 support, also Fibonacci 61.8% of 1.3550/1.3682, would neutralize wave principles and trigger fresh weakness towards 1.3550, 02 Feb higher low and 1.35 base in extension.
Res: 1.3682; 1.3700; 1.3738; 1.3800
Sup: 1.3620; 1.3600; 1.3580; 1.3550
GBPUSD
Cable
Linear Mode
