EURUSD approaching its support, potential for a bounce!
EURUSD approaching its support at 1.2260 (61.8% Fibonacci retracement , horizontal overlap support). We have also identified an impulsive Elliot Wave , where price could potentially rise to its 1st resistance at 1.2346 (horizontal pullback resistance) or if it breaks past this level, could potentially rise further to its 2nd resistance at 1.2411 (horizontal swing high resistance). We have also identified another support at 1.2221 (76.4% Fibonacci retracement ).
Stochastic (55, 5, 3) shows it approaching its support at 2.47% where a corresponding reaction could occur.
Stochastic (55, 5, 3) shows it approaching its support at 2.47% where a corresponding reaction could occur.
Trade closed: target reached
woohoo! Price bounced perfectly to our resistance target. Did anyone manage to catch the bounce?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.