I draw fibo retrace from 1.26 to 1.34 area. From this case EU still looking for hitting 50% line at 1.305x. But since price already close near this line it can be tricky if we place some moving average family. Also with posibility HnS pattern.
redFX trade plan:
Since i still holding 2 sell from 1.34 area i may waiting till price near 50%fibo line, if price hold around that line i may scalp buy searching up shoulder resistant at 1.33 area. But If price breaking 50% fib line then i just watching because already sell.
Anothers scenario is price moving up directly to 1.33 without testing 50%fib line, but i think more less posibility to take this scenario since fundamental still pressing Euro. When this scenario taken, i may not scalp buy and more choose waiting in 1.33 area to add more sell positions if EU can't break shoulder resisitant.
In Funda
Fundamental more complicated this week
Societe Generale: “Our long-term view is still that the EUR/USD will be higher and the relative hawkishness of comments from ECB President Mario Draghi is a reminder that at its heart, the ECB 'wants' to normalize policy while Ben Bernanke 'wants' to buy more protection against disaster”
Yeah, Bernanke and Draghi still "dangerous" this week :D like usually..
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