The Traderszone Network

Published in TZ Latest News 11 January, 2017 by The TZ Newswire Staff

EURUSD works its way back to support as momentum slows

Trend move stalled
The EURUSD ripped higher with little in the way of corrections. When trend legs (fast directional moves) do not correction below the 38.2-50% retracement of the leg higher, it says to me, that the trend is in tact. That is what we saw on the way higher.  There were three legs higher and each held above the 38.2-50% correction zone (yellow areas).