Fluctuation Analysis of EURUSD for 16.02.2017

Yesterday the EURUSD currency pair rebounded from the interest rate zone at 1.05840 and had a downtrend towards the interest rate zone at 1.05434. By completing a false breakout from this zone, the currency pair showed an uptrend and completed a breakout from the interest rate zone at 1.05840 stopped at ML-1 – 1.06045. This is a sign of a potential breakthrough from the downward trend in general.

Today the pair is being traded between the interest rate zone at 1.05840 and the balance level of control zones at 1.02940. A rebound of the price from the interest rate zone at 1.05840 will mark the balance level of control zones at 1.02940 as the new target. A breakout from this level will target the interest rate zone at 1.06648.

An alternative movement is possible if the currency pair rebounds from the balance level of control zones at 1.02940 and shows a downtrend towards the interest rate zone at 1.05840. A breakout of the price from this zone will mark the interest rate zone at 1.05434 as the new target.


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