EURUSD approaching resistance, potential drop!
EURUSD is approaching our first resistance at 1.1434 (76.4% Fibonacci retracement, 100% Fibonacci extension, descending channel resistance) where a strong drop might occur pushing price down to our major support at 1.1184 (100% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (21,5,3) is also approaching resistance we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21,5,3) is also approaching resistance we might see a corresponding drop in price.
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.