EURUSD: Target hit. Short on the next Lower High.
TP = 1.1250 hit as the 1D Channel Down (RSI = 31.425, Highs/Lows = -0.0092) was rejected as 1.1500 and made a new Lower Low. Assuming that today's low is the Channel's Lower Low (blue dotted line extension), we project a Lower High near 1.1400 on the 0.618 Fibonacci retracement since the 1.1500 High. This is based on the previous Lower high (1.15020), which was also on the 0.618 Fibonaccci levels following the 1.13050 Low. Our new TP = 1.11765 and 1.11085 in extension.
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