The last EU retrace to fibo 38 it move higher to 1.11391. will EU repeat and rebound off trend line at fibo 50/618. Will wait for the current 4hrly candle to close in 1.5 hours time.
I dont have position, just try to learn. All comments are welcome.
Looking out for opportunity to short EURUSD at Fib level 0.618 which happen to meet EMA50 on the daily chart. Notice that the overall downtrend of EURUSD since May 2014 has been respecting the EMA50 level.