EURUSD is now looking to retest the well maintained Support floor from 2017 and will hopefully bounce from there, further aiding this bias we have a 78.6% Fibonacci Retracement that sits beautifully on the Support. Additionally, there is a Counter Trendline that (looks better on the weekly) needs to be retested and once again perfectly aligns with the other two confluences. The target is the .27% Fibonacci Extension, which means it will be a long hold unless the market booms off this area. You can also take profits along the way at key Trendline and Resistance areas.
It's reaching near it's prior lows and i believe that this is a great time to go long. This is the monthly chart as you can get a clear overview of whats happening and it shows everything from a much cleaner perspective.
It's reaching near it's prior lows and i believe that this is a great time to go long. This is the monthly chart as you can get a clear overview of whats happening and it shows everything from a much cleaner perspective.
Comment:
Can even extend stop losses to be safe as it is a swing with good R:R
Comment:
Direction correct just didnt hit my entry. annoying!