Fair value gaps sitting below. 0.5 fib retracement should be visited and that would be first retracement wave, followed by a nice consolidation. 40k is definitely coming but 38k is very high probability in terms of my technical analysis. I am sure lots of long interest open position are present right now as there is a ongoing story with the ETF.
After 38k it...
Target: 1.45
Stop loss: 1.12200
RR: 1.5
My experience from price action of this pair tells me this can go to maximum 1.12500. Which is 0.786 fib level. It already stopped at 0.618. Then it will bounce from here upwards strongly. There were positive news about EUR today which means banks did it intentionally to trap more traders before taking long positions.
