DivisasEURUSD market analysis – five signs: wave count remains valid even! Is slightly above 1.37, but only for download afterwards. We believe that the most important thing that happened in the last 24 hours was the inability of the euro to exceed 1.3734, the point from which to begin the five waves (please see chart). And as we said yesterday, if the price is below this level, we are closer to a downtrend, and this wave count remains valid. The short term support is given by the Fibonacci 61.8% is at 1.3595, had already raised this point while writing this report. If the price stays above this value, we can expect a rebound, especially if the price breaks the resistance of 1.3648 in the short term. If it breaks this level, prices started rising sharply, and this strong growth will be able to break the 1.37, on the objectives and perhaps also 1.3755 1.3838. But as we said, we must pay attention to the ability or inability to break 1.3734 euro because it has a special significance.
If the price goes down again, and breaks 1.3595, we expect the pair to fall to 1.3529, and then continue to the area of 1.34 which is 1.3459. Support: 1.3595: Fibonacci 38.2% for the short term. 1.3529: Baja on Friday. 1.3459: March 1 Low Resistance: 1.3648: Line declining trend from up to yesterday in intraday charts. Go to Mark Frissora for more information. 1.3755: Stop downlink in graphics per hour, and a very important resistance for the short and medium term.