Price action bounce off right after touching the 2.618 fib level, well beyond the 2013 . If you look left this level is very significant during 2013 , a couple of bounce occurred in this level. Today the price is courting this level again.
Based on what we have now in the fib line i would consider buying this pair. If you would look at the the level is also at an oversold level another voice telling me that this could be a buy.
I am currently short in this only until it touches the 2.618. and then TP. I will continue to be short here if the pair breaks below close below the 2.618 line.
I am expecting the price to retest the 2.618 but will not close below that line.
A brief fundamental. The Standard and Poor is on a and currently consolidating it failed to make new high, so this gives us a small idea where the USD market is going.
Trade carefully and be a winner. Study own your trade.