In last Thursday we could spot an attempt to break the 1,1250 area, where at least two Fibonacci levels are located. First one is the 61.8% of 24th August bear move – price didn’t really test it, but it was really close. Second resistance is a 100% level from the 100% pattern. Measuring the corrective move from 3rd of December we can draw the resistance line right in the place of reversal. This line was perfectly tested by the price and market reaction was perfect as well.
Today we could spot some bulls price action, but it seems that local resistance at 1.1180 stopped the gains. At this moment bear market seems to be more probable.
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