EURUSD has broken out of its downtrend with an impulsive move to the upside. We have breached the previous swing high, invalidating the bearish sequence. Price is now retracing and im anticipating for it to hit the 0.618 Fibonacci retracement level or even deeper into our golden pocket region. The level of around 1.1065 is my preferred region as we also have the Daily 50 EMA as an added dynamic support.
If price action slows down at around 1.1065, with some nice indecision candles I will be taking this long to the 27% fib extension.
If price action slows down at around 1.1065, with some nice indecision candles I will be taking this long to the 27% fib extension.