Last EURUSD 300 Pips Long to Retest Structure
Filled longs with average of about 1.1076, expecting a restest of previous resistance of about 1.14.
1.106 was 61.8% correction of previous leg up from 1.095 to 1.123, this leg being 61.8% retrace of the Brexit plummet. The target of 1.14 is the 161.8% extension of the previous leg from 1.095, resistance zone on many occasions, TL since the 3rd of Dec and completes a Bearish Bat since the British referendum. Consequently, that would be a decent preliminary occasion to close longs and look for short entries.
1.106 was 61.8% correction of previous leg up from 1.095 to 1.123, this leg being 61.8% retrace of the Brexit plummet. The target of 1.14 is the 161.8% extension of the previous leg from 1.095, resistance zone on many occasions, TL since the 3rd of Dec and completes a Bearish Bat since the British referendum. Consequently, that would be a decent preliminary occasion to close longs and look for short entries.
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