EURUSD- TWO SCENARIOS- LONG OR SHORT- WAITING FOR PRICE ACTION
Current price is forming uptrend. After first high, price saw correction of 0.618, which is important Fibonacci level. Currently price is in phase of correction after its second peak it is reasonable to expect correction to stop at same 0.618 level as before. The fact that next support is also located at 0.618 Fibonacci gives this scenario more likelihood.
Reasonable entry point for short position would be after price breaks through 1.3454. TP would be located at 1.12800. SL is above entry point in case if price will play false breakthrough.
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Reasonable entry point for short position would be after price breaks through 1.3454. TP would be located at 1.12800. SL is above entry point in case if price will play false breakthrough.
Thank you.
Follow me for more ideas.
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