EURUSD approaching support, potential bounce!
EURUSD is approaching our first support at 1.1622 (horizontal swing low support, 61.8% Fibonacci retracement) and a strong bounce might occur below this level pushing price up to our major resistance at 132.26 (horizontal overlap resistance, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and we might see a corresponding rise in price should it react 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 also approaching support and we might see a corresponding rise in price should it react 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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