Monday, March 9, 2015

RESISTANCE TRENDLINE IN EURUSD (FIBER) 09/03/15


• 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. This level was tested when the markets reopened for the new week, as the price dipped to a 12-year low only 9 pips below it.
• 1.0792: a weekly low from Aug 2003.
• 1.0761: Aug 2003 major bottom.
• 1.0717: a weekly low from Apr 2003.
• 1.0683: a weekly low from Mar 2003.
• 1.0665: a weekly low from Feb 2003.
• 1.0560/5: a support/resistance area which includes 2 weekly lows seen in Mar & Apr 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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