Euro - EurUsd Rate Current low 1.0850 just short of 1.0801 Support Level - Expected Outcome is that Price will respect the Support Level mentioned and bounce towards New Term Highs at 1.1548 and 1.1435 is at 38% percent bar on the monthly chart cycle high. Stoploss placement again just below 1.0801 mark may require slight adjustment as the trade progresses.
Comment:
Extended Target High amounts only into 1.1156 at 200% bar which is the standard Rise in the rate at this time for the Price Structure - There is also an overbought value at 1.1224 which is at 241% bar high - So stop-loss should be placed just above the level giving the Price room to fluctuate.
Trade closed: target reached:
Target Reached 1.1156 added overbought value may incur 1.1224
