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

Yorum:

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