timmynorin

EURUSD - Will 61.8 hold?

Long
FX:EURUSD   Euro / U.S. Dollar
I've been eyeing this opportunity this since last week. Price have failed 5 times (and counting) to break and close below 1.0650 (seen on 4 hour), which also happens to line up more or less exacly with 61.8 fibonacci X-A.

We're coming from an oversold condition, momentum seems to be turning around - could this simple setup wield profit?

Overall, the break to the upside of the big triangle also gives a hint what this pair wants to do, diving down inside the triangle could be one last dip in the water before heading up.

Trade closed: stop reached: Nope!

Comments

The target looks like 1.1030 for the 17th April for me. I think the red hammer bottom wick on your chart (04-04 09:00), could well be the actual bottom here.
Thanks for sharing.
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Looks like it
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