The initial downtrend seemed to be broken and price consolidated a bit, but it still created a very small lower high, and then the bears push the price down once more. All of a sudden, the bulls pushed prices from 1.11300 to about 1.11688... This is where I use the long Fibonacci Retracement Tool (on the long blue, bullish candle). The retracement predicts the pullback to be where the circle is on the chart. What really sold me was the 2nd take profit was suggested at the major zone (1.12000). I was sold. This is a perfect place to expect some resistance (a key level). I don't like the stop loss placement, but I plan to monitor this trade and move the stop loss to break even.