EURUSD weekly Fibonacci levels for long term view and trading

FX:EURUSD   Euro / U.S. Dollar

EURUSD is adhering or responding to the Fibonacci levels all most all of the times. When trader wants to ride the trend this much information is enough to enter and exit trades. We are not trying to forecast the direction or the top/bottom. We are trying to identify important zones in which price may turn in Future.

Price patterns like double top or bottoms or many other patterns can be used along with Fibonacci. I have mentioned few on chart. Going ahead we can look for shorting opportunity near level 1 of Fibonacci and long near 1.27. Price may stop and turn(as expected) or continue up or down movement from mentioned levels. To avoid such scenarios where price continues the move instead of reversing, we need to take help of price structure and candlestick patterns.

Many traders msg me about how Fibonacci doesn't work, I recommend them all to stop using Fibonacci and use the tool in which you believe. As a trader our job is not to criticize any tool or method of analysis. Our target needs to be "designing trade plan which works for us". No tool works independently in my experience, we always need to club different tools and use them collectively.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out