EURUSD: Looking for retracement level 61.8 at 1.1050 for BUY.
Price have Significant Swing Low at 1.0500 (A) and rise up to 1.1050 (B). It retrace back and fall to 1.0700 (C) at level 61.8 Fibonacci Retracement level. Now e got ABC setup.
By using Fibonacci Extension, draw at ABC point to get Point D.
We also can see, price reject at Fibonacci Extension level 100, at 1.1250 (Pullback Level) and now it turn down again to make new retracement. So mostly, from level 100 extension level, price will fall back to 61.8 or 38.2 extension level. If we looking at this moment, level 61.8 at 1.1050 is significant to stanby for BUY Position.
By using Fibonacci Extension, draw at ABC point to get Point D.
We also can see, price reject at Fibonacci Extension level 100, at 1.1250 (Pullback Level) and now it turn down again to make new retracement. So mostly, from level 100 extension level, price will fall back to 61.8 or 38.2 extension level. If we looking at this moment, level 61.8 at 1.1050 is significant to stanby for BUY Position.
Penafian
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