EURUSD approaching its resistance, potential to drop!
EURUSD approaching its resistance at 1.2355 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially see a reaction causing it to fall it its 1st support at 1.2260 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support). We have identified a 2nd resistance at 1.2411 (100% Fibonacci extension, horizontal swing high resistance). A descending resistance line has also been identified adding to our bearish bias.
Stochastic (21, 5, 3) shows it approaching its resistance where a corresponding reaction could occur.
Stochastic (21, 5, 3) shows it approaching its resistance where a corresponding reaction could occur.
Trade closed: target reached
woohoo!! EURUSD dropped all the way to our 1st support. Hope you guys caught this too!
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
Disclaimer
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.
Disclaimer
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.