uf21jamal
Long

EURUSD: Looking for retracement level 61.8 at 1.1050 for BUY.

FX:EURUSD   Euro Fx/U.S. Dollar
77 0 1
Price have Significant Swing Low at 1.0500 (A) and rise up to 1.1050 (B). It retrace back and fall to 1.0700 (C) at level 61.8 Fibonacci Retracement level. Now e got ABC             setup.

By using Fibonacci Extension , draw at ABC             point to get Point D.

We also can see, price reject at Fibonacci Extension level 100, at 1.1250 (Pullback Level) and now it turn down again to make new retracement. So mostly, from level 100 extension level, price will fall back to 61.8 or 38.2 extension level. If we looking at this moment, level 61.8 at 1.1050 is significant to stanby for BUY Position.
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