Hello everyone.
If you remember, we said the EUR/USD was heading down to 1.1000. We’ve had a good move down thus far and now we’re in a bit of a retracement. The longer term trend is still down.
I drew in a trend line and did some Fibonacci analysis and found a potential turning point at 1.4220.
So, the question is, do we trade against the overall trend? We’ve all been taught - the trend is your friend. Well, the answer depends on your risk tolerance and money management. Also, be sure to check out the other expert bloggers on FX Street.
Good luck and happy trading.
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