Short-term vulnerability in EURUSD.

Important Update for RobotFX Visitors

We want to sincerely apologize for any confusion or inconvenience caused by our recent website restructuring.

The main RobotFX hub has officially moved to our new, streamlined address at robotfx.org (without the "www" prefix). While our main operations have shifted, we want to reassure you that this archives site, old.robotfx.org, will remain fully active. You can still access our complete library of past posts, historical trading analysis, and legacy articles right here.

However, for the latest updates, newer content, and a significantly faster, more optimized browsing experience, we highly recommend heading over to our primary home at https://robotfx.org.

Thank you so much for your continued support and patience as we improve our digital services.

Red lines- medium-term bearish channel

Blue lines- short-term bullish channel

Green lines- Fibonacci extension targets

EURUSD has broken out of the short-term bullish channel it was and has started forming lower lows and lower highs. Price has reversed from the 61.8% Fibonacci retracement as we explained in yesterday's analysis. At 0.9760 we have our first Fibonacci extension target of this pull back. Will EURUSD bulls manage to form a higher low or we will see a new downward move starting? In the near term EURUSD is vulnerable to more downside. At 0.9760 and at 0.9715 we find important short-term Fibonacci support levels. If price breaks below it then the chances for further decline increase.

Trading analysis offered by Flex EA.
Source