EUR/USD Long Setup: Strategic Entry at 1.08288
EUR/USD Buy Trade Analysis
We are planning to enter a long position on EUR/USD at 1.08288, aligned with the 61.8% Fibonacci retracement level. The overarching trend remains bullish, indicating potential for a continued upward movement after the current corrective phase.
we may see further downside before the uptrend resumes, presenting a strategic buying opportunity at more favorable risk/reward levels.
- Key Levels:
- Entry:*1.08288 (61.8% Fibonacci retracement level)
- Stop Loss: 1.0790
- Take Profit: 1.0872 (targeting a significant resistance level)
Fibonacci Confluence:
- There is a Fibonacci confluence area around 1.0828, reinforcing this level as a strong support zone and an ideal entry point for long positions.
We are planning to enter a long position on EUR/USD at 1.08288, aligned with the 61.8% Fibonacci retracement level. The overarching trend remains bullish, indicating potential for a continued upward movement after the current corrective phase.
we may see further downside before the uptrend resumes, presenting a strategic buying opportunity at more favorable risk/reward levels.
- Key Levels:
- Entry:*1.08288 (61.8% Fibonacci retracement level)
- Stop Loss: 1.0790
- Take Profit: 1.0872 (targeting a significant resistance level)
Fibonacci Confluence:
- There is a Fibonacci confluence area around 1.0828, reinforcing this level as a strong support zone and an ideal entry point for long positions.