Friday, February 27, 2015

SUPPORT TRENDLINE IN EURUSD (FIBER) 27/02/15


• 1.1184: yesterday's 1-month low.
• 1.1159: 85.7% retracement level, calculated for the recovery from Jan 26th 11-year low & probable termination point of wave (c) 1.1097 to Feb 3rd 13-day high 1.1534.
• 1.1096: the equality target, where wave (c) of the supposed second three, equals wave (a) of the same pattern. This level was tested with unbelievable accuracy when the market opened this week, as the price bottomed at an 11-year low one single pip above it, before rising more than 430 pips!
• 1.1046: a weekly low from Sep 2003.
• 1.0998: a weekly high from Aug 2003.
• 1.0935: a weekly high from Feb 2003.
• 1.0826: the cyclical Dow 66.7% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.
• 1.0792: a weekly low from Aug 2003.
• 1.0761: a weekly low from Aug 2003.
• 1.0454: the cyclical 71.4% retracement level, calculated for the enormous move from October 2000 all-time low 0.8220 to July 2008 all-time high 1.6038.

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