FOREXCOM:EURUSD has taken everyone's attention on Friday by making an impulse move to the upside. A lot of people believed it was a reversal due to many reasons: gap filled, impulse with breaking the previous lower high, but actually this move was just to get some money liquidity to melt down. So now traders got a very good R/R opportunity to sell ...
So I see the picture as following:
Price has dropped from 23.6 Fibo and broke the local low. Now it's confirmed down-down but first I expect it to hit 38.6 Fibo and then fall, as a second variant 76.4 and down. So watch these levels closely and do your thing..,
I am 100% sure we will see this metal trading at around 2000$ by the end of this year, for now just keep adding longs if any retrace happens, until we reach 1650$ mark. A bit later I will post a more precise idea of how to trade it with lower TFs.
The price has almost reached its target level. Soon we will see a good big move upwards. After spotting the price breaking out of the descending channel and PA at work, press a buy button and enjoy your long.
It seems to me, OANDA:EURUSD buyers are waking up a little bit, to shake off those who enjoy their shorts from 1.12500 level. During next week keep watching @1.09699 there might be your good buying opportunity.