ETHUSD is approaching our first support at 119.05 (horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement) where a strong bounce might occur below this level pushing price up to our major resistance at 125.26 (horizontal swing high resistance, 61.8% Fibonacci retracement). Stochastic (21,5,3) is also approaching support where 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.