EURUSD:
After breaking out from the consolidation area, EURUSD is currently showing retracement from the downtrend. The support zone for the consolidation (1.1545 – 1.1555) happens to show confluence with the 50% Fibonacci Retracement levels of the current wave and this area would be a good area to watch.
Legend:
Monthly Levels: Represented in Red
Weekly Levels: Represented in Blue
Daily Levels: Represented in Black
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