EURUSD is in retracement phase of its bull run now. The price is now at 0.38 fib level. Price is expected to bounce from here and have another go at 1.21 level which has prevented the advancement twice. I opened a long position from 1.1955 with a stop loss at 1.1895 which is below the 0.5 fib level(1.1904) of up movement. Price target is 1.2120.
Trade active:
Price failed to break the 0.5 fib level and now EURUSD is rallying at 1.1990 right now. The trade is 35 pips in profit right now. Hopefully, we will get the 1.21 target during this week
Trade closed: target reached:
Profit target reached at 1.2120. Total profit of 165 pips. The direction is still up so will look for opportunities to go long on pullbacks.