EURUSD has started to drop perfectly from our major resistance level. Now major resistance is changed to 1.2208 (Fibonacci retracement, horizontal overlap resistance, breakout level) and a further drop from this level could occur pushing price down to 1.2090 support (Fibonacci retracement, horizontal pullback support).
Stochastic (55,5,3) is seeing major resistance below 97% and has good downside potential.
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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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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.