EURUSD Daily - AB=CD & Ratio confluence & RSI Divergence

٢٠ سبتمبر ٢٠١٤

I had some time on my hands so I decided to take a look at the EURUSD daily chart and an opportunity for the longer term.
We have a possible AB=CD pattern (with 0.318 retracement) setting up terminating on structure level around 1.26300. Drawing Fib extensions we also have a 1.618 and 2.618 confluence at the same level.

If this level holds, I'll be looking for a rally into the 0.382 and 0.618 retracement levels which are both on structure level.

Thanks for sharing your thoughts !