Good morning traders.
Monday was a quiet day with the US being closed for Presidents Day. Little happened of any note with no follow through on the eurusd to the upside. In which case I´ve nothing to add to what I said yesterday so lets get straight to the charts.
The Daily Chart
We are back just below the 1.13 handle again as I write and I suspect we need a positive day today to have a better chance of making any higher prices going forward. With the US back in the chair lets see if we can make any headway. If not the downside still has the 1.12 and the 61.8% Fib of the major swing at around 1.1186 to be tested.
The Hourly Chart
I´ve noted the areas I´ll be watching today and added the Fibs of the swing down from the end of January for confluence. If we are going to get any traction up the chart look out for the 38% Fib at @ 1.1335 in the R1 Zone. If it can´t break through here the odds would favour further slips down the chart.
Have a good day :).