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MEX_Exchange

EURUSD dropping perfectly towards profit target, prepare to buy

Long
Euro / U.S. Dollar (FX:EURUSD)  
MEX_Exchange  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns EURUSD EUR USD eurusdshort eurusdlong eurusdprediction eurusdforecast Forex forextrading
32
3
trendanalysis harmonicpatterns chartpattern eurusd eur usd eurusdshort eurusdlong eurusdprediction eurusdforecast forex forextrading
Buy above 1.1692. Stop loss at 1.1613. Take profit at 1.1850.
Reason for the trading strategy (technically):
Price continues to drop perfectly towards our profit target. We look to buy above major support at 1.1692 (Fibonacci retracement, horizontal overlap support) for a bounce up to at least 1.1850 resistance (Fibonacci extension, horizontal swing high resistance) once again.
RSI (34) sees an ascending support holding price up for a bounce.
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