Hello everyone! There have been developments on EUR/USD. The most interesting thing happened overnight when the price sharply dropped for some reason, possibly due to the strengthening of the dollar, as it also increased based on other parameters. The price fell below the 9% Fibonacci retracement level, but did not reach the minimum and therefore did not break it. The growth potential is still intact, especially since an internal pattern has formed, within which the correction will continue to the target level of 50%. The 200-period moving average is located near the 38.2%, a reversal and pullback are possible from this resistance area. If EUR/USD drops to 14.6%, another internal pattern will emerge, indicating a rise towards 61.8%. If it forms, a long position can be opened towards the described target. I believe that such an opportunity will present itself in the near future.
