EURUSD approaching resistance, potential reversal!
EURUSD is approaching our first resistance at 1.1814 (horizontal swing high resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 1.1734 (horizontal overlap support, 50% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (55,3) is also approaching our major resistance and a reaction off this level might see a corresponding drop in price.
Stochastic (55,3) is also approaching our major resistance and a reaction off this level might see a corresponding drop in price.
Trade closed: target reached:
Caught the drop perfectly on this one :)
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