entering long on the loe euraud on the backgrounf of disapointment data from Germany, the euraud is already trading low, structure on daily has previos rezistance became support,the H4 made a nice double bottom and we have also divergence on RSI and MACD indicators
I expect prices to rebound from the 2.10813 area and to retreat to the 23.6 fib level, a 23.6 retracement can be validated even if we are in a uptrend move.
Note! we enter only if we see a bearish formation pattern formed.
we hit a strong support near1.0800 level and now we are in a correction, if the market retraces tot he 61.8 level i see a good opportunity for a long term short trade having in consideration the fundamental aspects on the both sides FED and ECB ,
note! We expect a sign of reversal on the 61.8 level at 1.1200 level ...