We just had a .618 retracement on the EURUSD 30 minute chart. I believe at this point that the market will continue down to retest prior lows if not break below those lows and find a new support level. A sell here would have a decent risk reward profile.
Trade closed: stop reached:
Chalk this up as a loss, Pete. The market came down and found some support at 1.17120 which was a minor resistance level earlier. The market then ran up to potentially retest previous highs at 1.17873.