Euro seems finally found its bottom (near term) against the dollar and showed a big correction move to the up. Assuming that the corrrection is not yet over, I place two pending orders as shown on the chart. As You might see we still have a lot of space to the upside until price reaches its medium term resistance line.
So, buy orders are placed right at FIBO 38.2% retracement zone which is almost exactly the same as daily pivot line. In view of this stoploss placed just below the 61.8% retracement, wihich level if broken down the momentum will probably be lost.
Target levels are set at daily R1 & R2 lines, that can easily be reached if Euro maintains its stamina.
Good luck to all !!
So, buy orders are placed right at FIBO 38.2% retracement zone which is almost exactly the same as daily pivot line. In view of this stoploss placed just below the 61.8% retracement, wihich level if broken down the momentum will probably be lost.
Target levels are set at daily R1 & R2 lines, that can easily be reached if Euro maintains its stamina.
Good luck to all !!