ON THE DAILY TF WE CAN SEE THAT IT LOOKS AS IF THIS PAIR WANTS TO RETRACE. IF IT DOES RETRACE NEXT WEEK IT COULD POSSIBLY REJECT THE LEVEL WHICH IT GAPPED AND FALL OR REJECT THE 38.2 LEVEL BEFORE CONTINUING INTO A DOWNTREND. I WILL BE LOOKING CLOSELY FOR ENTRIES ON THIS PAIR THROUGHOUT THE WEEK. ALSO TARGETS MENTIONED IN THE PREVIOUS EURUSD POST MATCH UP WITH THIS LITTLE RETRACEMENT WE MAY SEE ON THE DAILY. THE DAILY -61.8 EXTENSION LEVEL IS IN CONFLUENCE WITH THE MONTHLY -27 EXTENSION LEVEL. THIS IS ANOTHER GOOD REASON TO PLACE YOUR TP'S AT THE 1.125 PRICE LEVEL.
