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Update of an open position – EUR/USD Long from 19.02

Post Views: 286 The currency pair has reached serious levels of horizontal resistance around the 1.0988 area. At these levels is also found 50% Fibonacci, measured from the top on December 31, 2019 to the bottom on February 21, 2020. In addition, these levels also coincide with 23.6% of Fibo’s long-term downward movement, measured from 24 September 2018 to its last bottom. This makes price action around this critical point very important. The position was opened on 19.02, after the price reached a long diagonal and triggered a bundle of waiting long positions. To precise the exit from the position we go to a 4-hour chart and observe the last bar, which has been strongly reversing in recent hours, as…

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 Trader Aleksandar Kumanov

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