I am going long to 102.01 with a stop at 101.64.
2016Sep19 I am going long to 102.01 with a stop at 101.64. The price has reached the 38.20% fib level on the retracement.
Prior to the retracement the pair made it to 101.85 which is approx 27 pips from the bottom. I am expecting the pair to continue for at least another 27 pips from the bottom of the retracement (as defined by the 38.20% fib level). This places the pair at the first resistance level that begins around the 102 level.
The RSI is below 50.
Prior to the retracement the pair made it to 101.85 which is approx 27 pips from the bottom. I am expecting the pair to continue for at least another 27 pips from the bottom of the retracement (as defined by the 38.20% fib level). This places the pair at the first resistance level that begins around the 102 level.
The RSI is below 50.
Comment:
Target reached.