In our previous post, Buy EUR/USD: Important levels and Capitulation we recommended a long but we got stopped and price cut through the 100% extension level very easy.

Now, we are waiting to see how EURUSD will react at 162% extension in order for us to determine the next move.

EURUSD 1H – April 14, 2016

EURUSD 1H - April 14 2016

If price jumps there and either bounces back up or holds, then we will watch for 2 upside targets: 1.1260 and 1.1290.

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