EURUSD approaching support, potential bounce!
EURUSD is approaching our first support at 1.1278 (100% fibonacci extension, 76.4% fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1.1426 (horizontal swing high resistance, 61.8% fibonacci extension, 78.6% fibonacci retracemen, descending channel resistance).
Stochastic (89,5,3) is 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 (89,5,3) is 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
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