The 100% Fibonacci retracement level will be targeted which is the 1.1550 level. At this point, I think rallies continued offer selling opportunities in a market that quite frankly looks broken.
EUR/USD Weekly Forecast - 28 May - 1 June
The Euro initially tried to rally against the US dollar as well but found trouble with the 1.1850 level. We ended up turning around and forming a very ugly candle, we suggest that we are in fact getting ready to take out the entirety of the move higher.
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