EURUSD - Retracement Expected

EURUSD has seen a big fall after CPI news which contributed to its general bearish sentiment. However, we may see a retracement, as some traders may anticipate mean reversion. Keep in mind as bigger timeframe is bearish, It is better to watch for a change back to bearish trend once it hits probable 0.38-0.61 fib retracement zone in hourly timeframe. Price may go sideways for some time in hourly interval, but a break down is better point to enter short.

Comment:

Trade is typically following the curve. Still looking for that retracement completion.

Comment:

Price retraced from almost 0.28, without going towards expected zone

Trade closed: target reached:

Price is generally bearish. After bullish retracement. Prepare for a potential major downfall.