EURUSD has started to drop perfectly from our major resistance level. Now major resistance is changed to 1.2208 (Fibonacci retracement, horizontal overlap resistance, breakout level) and a further drop from this level could occur pushing price down to 1.2090 support (Fibonacci retracement, horizontal pullback support).
Stochastic (55,5,3) is seeing major resistance below 97% and has good downside potential.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results