The great thing about trends is that they are always due to pull back. If we see today’s sell-off in the EUR/USD extended tomorrow, then a buy from Fibonacci support will be a solid way to enter this market. A long from the Fibonacci retracement level of the current wave (1.1499) on the daily chart is solid entry to the bull.
Here is the trade:
1)Buy: 1.1506
2)Take Profit: 1.1556
3)Stop Loss: 1.1449
4)Risk vs Reward: Sub 1/1
The proximity to the 1.1500 handle is a bonus for this trade. It may take a while to shake out, but a bounce from 1.1500 is highly likely.
Here is the trade:
1)Buy: 1.1506
2)Take Profit: 1.1556
3)Stop Loss: 1.1449
4)Risk vs Reward: Sub 1/1
The proximity to the 1.1500 handle is a bonus for this trade. It may take a while to shake out, but a bounce from 1.1500 is highly likely.