EURUSD is approaching our first resistance at 1234.00 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance) where a strong drop might occur pushing price down to our major support at 1222.44 (61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance we 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 approaching resistance we 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.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results