This pair may be close to forming new high since it last did in close of 2009 financial trading year. If we go by our calculations, we expect the pair to rally up to complete a wave leg (iii) at 133.87 and further advance to 134.94 where a key resistance is said to be established.
Completion of this wave leg may see the pair retrace 61.8% of the fibonacci expansion sequence not shown in the chart- we expect to do so when the target in sight are completed.
NOTE: Price
predictions produced by FibonacciPrice&PatternTrader may be
affected by unforseen events like hurricane, earth quake, flood and
other natural disasters consequently changing price patterns already
predicted. Hence we advice strict adherence to money management
techniques.
HAPPY TRADING
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