EUR/USD is in a great buy position as soon as the next candle closes above the .618 fib level.
Not only is the currency pair reacting perfectly with the 4hr fib level but there is also a descending pass through trend line that is currently holding price and preventing it from falling lower.
However, in the event the next candle breaks and closes below the descending trend line you could sell the pair and look to take profit around the .786 fib level. Then wait for another bullish entry confirmation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.