germanbel
Short

EURUSD: Where we are?

FX:EURUSD   Euro / U.S. Dollar
61 0 0
The price is making resistance at the 50% of the structure 123 between point 1 and 2. If we draw the fib retracement between point 1 and 2 the price is making resistance at the 0,618 level.
If this resistance holds without breaking point 2 we will see a lower low below point 3.
In trading words it would be logical to sell now at the resistance with target at 1,618 level of fib expansion between point 2 and 3.
On the other side, the break up at point 2 would be an opportunity to buy with target at 1,618 level of the fib retracement.
Ckeck your information and match it with this idea. Good luck.
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