[topchess]

Hello,

EURUSD looks to be in correction move from 1.3363 8 Dec swing high. Support is down to 1.3052 weekly low, resistance is up to 1.3290 weekly high.

Below 1.3052, support is down to 1.3030 which marks the 38.2% fibonacci of 1.2482-1.3363 rally. An important level to watch if 1.3052 weekly low gives up.

SHORT
A violation of 1.3030 fibonacci support, followed by 1.3000 psychological and moreover 1.2980 will lead to more downside pressure towards 1.2920-30 area which contains 23 Nov low, and also marks the 50% fibonacci of recent rally. If that's violated look to the 1.276 area weekly low.

LONG
However, a clearance of 1.3290 thereafter 1.3300 psychological will confirm a resumption of the uptrend and should target 1.3363, then 1.3481 and 1.3667

OVERALL
38.2 fib should remain intact, together with 1.2980-1.3000 to stop and reverse the bias to upside again. however a break thru 1.3244, then 1.3290 will signal that correction is over, and uptrend is resuming.

Good luck !