EURUSD--Wednesday, October 12, 2011
Target was 2.618 Fibonacci level roughly around 1.3790. We achieved that this morning with a little to spare. There is the possibility that just as price oscillated around the 1.618 level for a few days, the 2.618 level could provide a pause rather than final target. If that were to be the case, the next target in a continuing pattern would be around 1.4050, the 4.236 Fibonacci level.
