Currently, the EU has broken the recent previous high, preparing for the next big move to make a new high. If the current candle closes and forms a bullish engulfing pattern, then we will make a move to join the bulls for the big ride to the upside. If the current candle closes and forms an inside bar, then this calls for patience to see a confirmation candle printed in the chart before taking a trade decision.
Confluence: 1. the price is currently respecting the 61.8 fib level, adding more confluence to buy the EU. 2. the price is sitting on the resistance level, turning it to a flip zone where the resistance turns into a support level.
Finally, I advise you to wait for stochastic crossover before entering this trade to add more confluence. This is only one more thing I expect to happen is the stochastic crossover before taking this trade setup.
Confluence: 1. the price is currently respecting the 61.8 fib level, adding more confluence to buy the EU. 2. the price is sitting on the resistance level, turning it to a flip zone where the resistance turns into a support level.
Finally, I advise you to wait for stochastic crossover before entering this trade to add more confluence. This is only one more thing I expect to happen is the stochastic crossover before taking this trade setup.