Willy77

EURUSD Setup Update

FX:EURUSD   Euro Fx/U.S. Dollar
32 0 2
Previous Short Setup @ 1.1460 has bottomed near 1.1100 (see previous chart).
EURUSD             approaching to retest upper level now.
For Long position watch 1.1380 breakout and hold above, this should retest Fib 50 (1.1405) if not fail then retest Fib 61.8 (1.1475).
At this level (1.1475 - 1.1522) should encourage profit taking and more seller to come.
This good opportunity to place short after consolidation and rejection at this level confirm.
Buyer should wait until approaching 1.12300 - 1.1195 for good RR ratio.

Thank you for your feedback.
Regards,
Willy

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