EURUSD breaking out of long term support,potential for big drop!
EURUSD has broken major ascending support line triggering a potential drop. Our 1st resistance is at 1.2360 (Fibonacci retracement, breakout level) and a strong drop could occur from here to push price down to 1.2083 support (Fibonacci retracement, horizontal pullback support).
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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.