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Back Technical analysis
EUR/USD: May 8th – Uncertainty Over Iran Continues to Pressure the Market
On Thursday, the EUR/USD pair reversed
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On Thursday, the EUR/USD pair reversed once again in favor of the U.S. dollar and consolidated below the 50.0% Fibonacci retracement level at 1.1745. As a result, the pair's decline may continue today toward the next Fibonacci level of 38.2% at 1.1666. However, everything today will depend on the news background. A close above the 1.1745 level would once again allow bulls to launch attacks toward the 61.8% corrective level at 1.1824. The wave structure on the hourly chart
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Samir Klishi,
Analytical expert of InstaForex
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