EURUSD approaching support, potential bounce!

EURUSD is approaching our first support at 1.1518 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.1661 (horizontal overlap resistance, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Chart PatternsEUREURUSDeurusdlongeurusdshortForexforexsignalsforextradingHarmonic PatternsTrend AnalysisUSD

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Also on:

Disclaimer