Tuesday, February 24, 2015

RESISTANCE TRENDLINE IN EURUSD (FIBER) 24/02/15


• 1.1336: the falling trend line from yesterday’s high.
• 1.1362: micro term Fibonacci 50% calculated for the drop from Friday’s high 1.1429 to Monday’s low 1.1295. This level was tested during yesterday’s American session with stunning accuracy, when the price topped at a session-high one single pip above it, before dropping again.
• 1.1378: micro term Fibonacci 61.8% calculated for the drop from Friday’s high 1.1429 to Monday’s low 1.1295.
• 1.1391: an important resistance which combines the falling trend line from Thursday’s daily high, with the micro term 71.4% calculated for the drop from Friday’s high 1.1429 to Monday’s low 1.1295.
• 1.1429: Friday’s high.
• 1.1466: 85.7% retracement level for the falling move from Feb 5th high 1.1499 to Feb 5th low & probable Fibonacci bottom 1.1270.
• 1.1499: Feb 5th daily high.
• 1.1534: Feb 3rd 13-day high.
• 1.1567: Jan 15th daily low.
• 1.1596: 85.7% retracement level, calculated for the falling move from Jan 21st high 1.1679 to Jan 26th 11-year low & probable termination point of wave (c) 1.1097.
• 1.1639: Jan 19th daily high
• 1.1679: Jan 21st daily high.
• 1.1727: Jan 14th low.

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