EURUSD is approaching our first support at 1.1733 (horizontal overlap support, 50% Fibonacci retracement, 100% Fibonacci extension) where price might potentially rise our major resistance at 1.1799 (horizonal swing high resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) which coincides with our short-term descending resistance line.
Stochastic (55,5,3) is also approaching our support where a bounce off this level might see a corresponding rise in price.
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Stochastic (55,5,3) is also approaching our support where a bounce off this level might see a corresponding rise in price.
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