EURUSD bounced nicely off its support at 1.1938 (61.8% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support) where price could potentially rise to its resistance at 1.2157 (50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal pullback resistance). We do have to be cautious of the intermediate resistance at 1.2064 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal pullback resistance). Stochastic (89, 5, 3) bounced off its support at 1.005% where a corresponding rise could occur.
Good chart dude -
one without Fibos now.
Parallel power
isarnil
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Brilliant chart, shows everything very clearly..! Also noticed the hesitance of the downward trend at 1st support, and came looking for other views. I'm wondering, however, if the dollar trend is so strong it might break support levels during next few days.... My only worry with this trade! @PavelKarakay - thoughts?
one without Fibos now.
Parallel power