We have a recent uptrend in EURUSD and currently seeing a natural retracement (pullback). If we can see some support at 1.3850 and the market climb back about the 1.3865 we could see a climb all the way to the 1.3915 level which is the 1.618 Extension on this current uptrend.
However, if we see the market drop a little, we could see further decline, at least until it reaches 1.3840 which is the .382 retracement
Just saw EURISD drop below 1.3820. I want to see a full candle below this level as a confirmation. With news just coming out, we could even see a pull back on this quick drop and a rise back above 1.3820 would not be surprising
landofand
⋅
Pretty simple!!!
Would still follow the upward trend if it breaks above .786 drawn earlier
Also, start looking at bearish breakout and more decline if we fall below this 1.3820 level
landofand
⋅
going nuts waiting for breakout. looking at short timeframes, it almost looks like we might see the drop down to the .382