The EU tried to break the 200 SMA M30 several times without success. This is why waiting for the retest is critical. If you would have jumped in on those breaks without waiting on the retest you would have felt a lot of pain several times. I am waiting for the 1.3980 level to be broken and retested before going long. If that 0.0 Fib level is broke and RETESTED my initial target will be 1.4055 which is a few pips below the 161.8% retracement level. I will be looking to go short if we get a break and retest of the 1.3880 area.
good analysis
ReplyDeletehttp://forextrader-realtrader.blogspot.com