EURUSD approaching support, potential bounce!
EURUSD is approaching our first support at 1.1627 (horizontal overlap support, 23.6% Fibonacci retracement) and a strong bounce might occur above this level pushing g price up to our major resistance at 1.1727 (horizontal pullback resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement). A breakout above our intermediate resistance at 1.1660 (61.8% Fibonacci extension) might provide the bullish acceleration to our major resistance target.
RSI (21) is also seeing a bullish exit and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
RSI (21) is also seeing a bullish exit and we might see a corresponding rise 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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