Fib 76% retrace, extension 127% at 1.1285
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EURUSD Long
Fib 76% retrace, extension 127% at 1.1285
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Hi George, I’m not that sure that a 76.8 retrace caused by NFP could be used to predict a Fib extension… maybe some other comments with other’s opinions may help!
True, I am also expecting to reach the resistance zone indicated in pink zone as NFP only reached weekly pivot, but not deep supply zone from last down swing. I limited the extension 1.27 for increased probability and this lines up with supply zone.
Of course, we will have some potential reversals before we get there, namely – 1.1184, 1.1189, 1.12, 1.1213, 1.1227,1.1243.