EURUSD is approaching our first support at 1.1379 (horizontal swing high support, 78.4% fibonacci retracement, 100% fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1.1379 (61.8% fibonacci extension, 61.8% fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
Stochastic (34,5,3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
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