EU Monthly Chart: At 50% Fibo

Below is EU monthly weekly chart. EU retrace from 1.2328 low reach 50% of 1.6037 to 1.2328. On weekly chart, price is near 34 EMA. Target for downside is the previous low. I entered at 1.4110. I intend to hold this position until target. Who knows guys. It's seems like a good opportunity ;P