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A Fib applied to the EURUSD 1 Hour Chart

Profile photo of Nuno Lampreia – Forex.Today by Nuno Lampreia – Forex.Today
2015-09-18_00-47-42eurusd

2015-09-18_00-47-42eurusd

The FOMC meeting took the eurusd up in value.

Price went up to the next resistance area where probably some profit taking took place.

We know that a healthy trend retraces 50% of the previous move so I thought I place a Fibonacci on the chart where you may see the 38% to 62% as buying opportunities.

Be patient and wait for price to come down to be in a good position to buy at an price to your advantage.

A target could be at the previous high or the 121% to 162% Fib extentions.

Best of PIPS

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