EURUSD approaching resistance, potential for a drop!
EURUSD approaching its resistance at 1.2444 (61.8% Fibonacci extension, horizontal swing high resistance) where price could potentially drop to its 1st support at 1.2277 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support). If it breaks this level it could fall to its 2nd support at 61.8% Fibonacci retracement, multiple swing low support).
Stochastic (55, 4, 3) is seeing major resistance at 98% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55, 4, 3) is seeing major resistance at 98% where a corresponding reaction could occur.
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