The "Textbook Fibonacci Retracement" Model -- EUR/USD and GBP/USD
EUR/USD 15m chart shows that EUR/USD moves higher today around 100pips.
The standard 61.8% - 78.6% retracement level is mostly used to execute long (1.1730 - 1.1710)
1.1410 EURUSD is pips away from getting exercised.. EUR/USD pending short at 1.13950, stop at 1.1410 and target at 1.1360 (15pips: 35pips)
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- EUR/USD pending short at 1.5950, stop at 1.1610 and target at 1.1560 (15pips : 35pips)
- GBP/USD pending short at 1.3420. stop at 1.3440 and target at 1.3380 (20pips : 40pips)
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EUR/USD hits stop loss at -10pips.
Total this week = -10pips.
If the DXY could sustain above 100, the GBP/USD 1.3340 is highly likely to be hit today.
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CLose GBP/USD long trade at a loss of -10pips.
EUR/USD long at around 1.1550, stop at 1.1540 and target at 1.160 (10pips : 50pips) ahead of ECB rate decision.
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