theselfishtrader

Short-term bullish Inside Bar

Long
FX:EURUSD   Euro / U.S. Dollar
Price bounced off the 61.8% Fibonacci retracement level and has been in a steady decline since then. Price has paused at Monthly support (purple dashed line) and formed an inside bar pattern. Whilst the trend is down overall, lower timeframes (hourly and lower) have changed trend.

Conservative targets would be a retest of the 38.2% fib level, with a retest of the swing high at 1.113s also a possibility.

Happy trading!

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