Open trading account 
Last week we had a really strong bullish trend which finally run out of steam at 1.3900 level. So what now? Market gaped down on open and didn't manage to go above the close of the last week. The price has retraced to a horizontal support level. Actually two of them. Plus it also matches up with 1.3800 and 50% retracement level. So this can be considered as a very strong support level. Economic data also didn't bring us any surprise and there is no important news left this week either, so there shouldn't be too much speculation. I expect price to go down slightly below 1.38 to bounce off of 50% FIB level and then continue higher. Besides there has already been a bounce off of this level, perhaps this will form a double bottom. Of course this is just a possibility and the most optimistic scenario. Potentially price could drop to 61.8% FIB too. But as always we need to watch for a price action to give us some clues. Alright, we'll see tomorrow. Last week we had a really strong bullish trend which finally run out of steam at 1.3900 level. So what now? Market gaped down on open and didn't manage to go above the close of the last week. The price has retraced to a horizontal support level. Actually two of them. Plus it also matches up with 1.3800 and 50% retracement level. So this can be considered as a very strong support level. Economic data also didn't bring us any surprise and there is no important news left this week either, so there shouldn't be too much speculation. I expect price to go down slightly below 1.38 to bounce off of 50% FIB level and then continue higher. Besides there has already been a bounce off of this level, perhaps this will form a double bottom. Of course this is just a possibility and the most optimistic scenario. Potentially price could drop to 61.8% FIB too. But as always we need to watch for a price action to give us some clues. Alright, we'll see tomorrow.