Above gives a breakdown of Thursday-Friday's action on the EUR/USD and how my short, based on the break of channel, played out.
Below, I'm taking a quick look at the fib levels from the top of the (now broken) channel and the recent lows. After making the new lows, the pair retraced back to the 38% level and stopped. This level will be a good one to keep an eye on as price may continue lower to retest/make new lows or break through the 38% and see some serious retrace upwards.
Have a good weekend.
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