EUR/USD breakout

FX:EURUSD   Euro / U.S. Dollar
70 0 3
As we crossed fib level on 61.8% of last wave with no quick reverse to up, it is most likely going to hit fib level @61.8% of whole last pattern. Slow decline points on possibility of contracting pattern to develop. If we really hit the level (around 1.112) its good buy signal that has to be handled carefully. Turning point wont be much higher than last top. (expect 1.135 - 1.140). Fib retracement will define where to close buy and sell . Yet there is still some chance that price will strongly turn upside and expected fib level wont be reached. I have buy stop for that case (1.12) Will see...
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