Thaks Pip Maker for pointing it out. I guess you are talking about the fibonacci levels of the drop from 4940-3965
One more thing I want to add in regards to the fibonacci level of retracement that I am seeing right now from 4103-4577 is that we are at the 23.6 fibonacci level of that entire rise.
One very prominent characteristics of strong impulse waves is that in the inital stages of their development, not a lot of them will retrace to 50% fibonacci levels.
Most retracements are to 23.6 with few to 38.2 and very rarely to 50.0 level fibonacci.
When you switch to a higher time frame such as H2 time frame, you eliminate a lot of noise in the rise from 4103 and you can see that the retracement level is clearly 23.6 and the retracement has taken more time than other ones, making itself quite prominent.
One more thing I want to add in regards to the fibonacci level of retracement that I am seeing right now from 4103-4577 is that we are at the 23.6 fibonacci level of that entire rise.
One very prominent characteristics of strong impulse waves is that in the inital stages of their development, not a lot of them will retrace to 50% fibonacci levels.
Most retracements are to 23.6 with few to 38.2 and very rarely to 50.0 level fibonacci.
When you switch to a higher time frame such as H2 time frame, you eliminate a lot of noise in the rise from 4103 and you can see that the retracement level is clearly 23.6 and the retracement has taken more time than other ones, making itself quite prominent.
DislikedRight now eur/usd didn't break 61.8 fibo level so its going down to 50.0 level 1.4456 and if i'll break it will retrace more to 38.2 area which is 1.4358 its about same where Kambooj is saying it might touch.Ignored