EURUSD, 15 Break and Retest Trend Line
4HR: I see that price was in an uptrend but broke through 4HR trendline for the sell. Price retraced, close, to 38.2 and hit -27 on the 4HR FIB. There's bearish divergence on the RSI.
CURRENTLY: I see that price was trending upward but broke through for the sell, after finally hitting -27 on the 1HR FIB attached to major structure. Price has been ranging the past week and on the minor structure it's showing a downtrend, retracing to 50% so far.
I am looking to see if price will
(a) Pull back to retest resistance, @61.8 on minor FIB, and then drop
OR
(b) Drop immediately, making its way to -27 on the minor FIB
(50 - 60 pips)
4HR: I see that price was in an uptrend but broke through 4HR trendline for the sell. Price retraced, close, to 38.2 and hit -27 on the 4HR FIB. There's bearish divergence on the RSI.
CURRENTLY: I see that price was trending upward but broke through for the sell, after finally hitting -27 on the 1HR FIB attached to major structure. Price has been ranging the past week and on the minor structure it's showing a downtrend, retracing to 50% so far.
I am looking to see if price will
(a) Pull back to retest resistance, @61.8 on minor FIB, and then drop
OR
(b) Drop immediately, making its way to -27 on the minor FIB
(50 - 60 pips)