Time for EURUSD to touch resistance and Fibonacci level?
It looks like a good entry with risk/reward ratio for short term swing.
The Euro has rallied long enough and is going into a daily consolidation. Looking at the basic technical analysis tools displayed on the chart here, there is a potential for the EURUSD to touch the previous resistance level, and retrace to natural Fibonacci level 0.38, before rallying up again. This does not indicate a downtrend, but perhaps can just a retest.
We will have to keep an eye if the EURUSD breaks above previous highest level too, however it could be a sign of a fake breakout. Trade with lower risk, and good luck everyone
The Euro has rallied long enough and is going into a daily consolidation. Looking at the basic technical analysis tools displayed on the chart here, there is a potential for the EURUSD to touch the previous resistance level, and retrace to natural Fibonacci level 0.38, before rallying up again. This does not indicate a downtrend, but perhaps can just a retest.
We will have to keep an eye if the EURUSD breaks above previous highest level too, however it could be a sign of a fake breakout. Trade with lower risk, and good luck everyone
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