EURUSD approaching resistance, potential drop!
EURUSD is approaching our first resistance at 1.1794 (horizontal swing high resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.171 (horizontal pullback support, 100% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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