The EUR/USD fell sharply without any significant pullback after the double top. It is now approaching an important support cluster seen in the 4H chart. At about 1.3165, we have 61.8% retracement of the 1.2970-1.3482 bull run in the second half of February. Slightly lower is a rising trendline that connects the 1.2970 low with Jan’s low of 1.2620. The 4H 200 simple moving average is also just under 1.3165. What is the reward-risk assessment of a buy from 1.3165? Let’s say an entry is at 1.3175, and a stop is below 1.3150, say 1.3130, risk would be 45 pips. 1.33 and then 1.34 are potential targets to the upside and as ... (full story)