EURUSD approaching resistance, further potential drop!
EURUSD is approaching our first resistance at 1.2221 (horizontal pullback resistance) and a strong reaction might occur below this level, pushing price down to our major support at 1.2154 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish bias.
RSI (55) is also seeing a bearish exit and might be a good precursor for a further potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is also seeing a bearish exit and might be a good precursor for a further potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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