If you have been following my blog, you will know that I says that the price will moved down to fulfil the 1.618 extension unless something happened.
The thing has happened today and therefore there might be a change of trend for the EURUSD.
As the price has produced a higher high by breaking above the 0.500 Fibonacci retracement, it might change the trend of the EURUSD from now on. So if you are still looking to SELL, it is time to change the direction to BUY.
In fact, if you are a user of my trade copier, you will see a lot of winning trades from the upmove.
I have provided the screenshot of all the trades that were taken after my previous post
If you have $1,000 in your account, you will see profits of $607.77
If you have $5,000 in your account, you will see profits of $3,038.85
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Let us come back to the EURUSD analysis
If you take a look at the picture below, you can see that the price has break above the medium term 0.500 Fibonacci resistance. If you are a student of my course, you can take a look at the modified MACD on your chart and you should see that the price is in a strong up trend at the moment.
So I will look to BUY the EURUSD for today and tomorrow unless it shows something different. The EURUSD still has the potential to move up till it hits the 1.618 extension (Marked as Strong Resistance below) which is ard 50 pips away from the time I write this post