EURUSD Analysis - Long

Here we see a combination of factors pointing to a potential break of a 12 month Trend resistance line. First the cluster of Fibonacci retracements (23.6% and 38.2%), then a retest of the 13/21 EMA's, followed by price approaching the Zone which turned from Supply to Demand upon the break and retest. Because of the sharp turn down from the 1.10 price level, a reversal or bullish candlestick would be a further and perhaps final confirmation to start looking long, if not already in. EURUSD