EURUSD Loves Its Fibs.
2012
The EURUSD played the Fib range like a master on Monday. The cross began the day by sliding down from the .618 fib from September move lower at 1.3030 before pushing to test the bottom of the fib range at 1.2944. It will take a confirmed break from this range to test broader Support and Resistance zones. A break of the range exposes the 200 day MVA and daily support at 1.2820. A push above the top of the range could lead to a test of last months highs at 1.3170.
Sup 1.2944 1.3170
Res 1.3030 1.2820
Keane Plan....Waiting for a break of the fib range to expose either 1.3170 or 1.2820
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