Hello traders, EURUSD movement based on Fibonacci levels. A bullish scenario is emerging for this instrument. The market movement is within the Fibonacci range, between the 100 level at 1.17747 and the 50 level at 1.17427, with the current price at 1.17507. By using the previous day's extremes, it is possible to set up a Fibonacci grid based on them. This construction results in the range of 100 at 1.17747 and 50 at 1.17427. The presence of the current price at 1.17507 in this bullish corridor indicates an upward movement. Based on this information favoring market growth, I am looking for entry points from the target levels of 50 at 1.17427, 61.8 at 1.17502, and 76.4 at 1.17596. From these levels, one can work on both rebounds and breakouts. I aim to take my profit at the upper levels of 123.6 at 1.17898 or 138.2 at 1.17992, which I would be very happy about. It is possible that things may not go as planned, and bears may show interest, leading the market below the range, potentially below the 50 level at 1.17427. One should not fear this bearish situation; instead, flexibility is needed to switch to selling. Fibonacci grid can be constructed in various ways. My decision was to align it with the daily candle, which simplifies the setup without any market errors.
