EURAUD approaching resistance, potential drop!
EURAUD is approaching our first resistance at 1.5777 (horizontal overlap resistance, 50% Fibonacci retracement, Elliot wave structure) and a strong reaction might occur below this level, pushing price down to our major support at 1.52777 (horizontal swing low support, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also seeing a bearish divergence and is approaching our resistance where a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also seeing a bearish divergence and is approaching our resistance where a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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