EURUSD - Long

Bullish flags on H1 and H4 suggests a change in cycle in terms of trend. The pair has tested and rejected the 50% Fibonacci retracement level of the flag. We need to wait further confirmation, a break and close above 1.18358 - 1.18360 on the retest we can go long. If however the pair continues to retrace further down then we can look for longs around the 0.618 fib level (1.18120), bullish reversal patterns in and around that area will give us more risk to reward towards 1.18900.

If the pair breaks and closes below 1.18120, then it will negate this long trade idea.

Just my opinion...what do you think?

Disclaimer: This is not investment advice or signal.