Fibonacci retracement analysis on EURUSD
Correctional movement in the market as Prices hit a retracement at 0,5 fib and faces Support from previous resistance. RSI at 32 indicating an oversold in the market
Note
Lines on the fib indicate potential Support and resistance area. Since our retracement was at the 0.5 Level which was aligned with previous Points of resistance we then narrow a timeframe lower looking for refined entry reasons and Points. Target set at the higher fib level
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