EURUSD approaching its support, potential for a bounce!
EURUSD approaching its support at 1.2276 (61.8% Fibonacci retracement, horizontal swing low) where a potential bounce could occur, causing price to rise to its 1st resistance at 1.2444 (61.8% Fibonacci extension x2, horizontal swing high resistance). If it breaks past this resistance, it could rise to its 2nd resistance at 1.2522 (100% Fibonacci extension, multiple swing high resistance). We have also identified a 2nd support at 1.2162 (61.8% Fibonacci retracement, L T 38.3% Fibonacci retracement, multiple swing low support).
Stochastic (89, 5, 3) also shows it approaching its support at 2.14% where a corresponding reaction may occur.
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) also shows it approaching its support at 2.14% where a corresponding reaction may occur.
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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