You can see the 61.8 fibonacci level has just been broken. Here's what i'm thinking.
things can go two ways.
either market is over bought at the moment, which we do sort of see on the stochastics and from here we'll see a correction downwards.
or
we will see the fib level being broken and market going all the way up to the previous high of 1.3665.
i'm going to keep a close watch on the Euro today especially when Europe opens up and see whether things are little more clearer.
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