Get started
easyMarkets

EURUSD approaching resistance, watch for breakout!

Long
Euro / U.S. Dollar (FX:EURUSD)  
easyMarkets Broker  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns EURUSD EUR USD eurusdlong eurusdshort Forex forextrading forexsignal Bitcoin (Cryptocurrency)
3
0
trendanalysis harmonicpatterns chartpattern eurusd eur usd eurusdlong eurusdshort forex forextrading forexsignal bitcoin
EURUSD is approaching our first resistance at 1.2288 (horizontal overlap resistance, 100% Fibonacci extension, 23.6% Fibonacci retracement). A breakout above this level might cause a strong rally up to our major resistance at 1.2373 (horizontal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension). Price also broke out of our short term descending resistance-turned-support line, in line with our bullish bias.

Stochastic (55,5,3) is also seeing a bullish divergence and more upside before it reaches its major resistance, in line with the potential upside in price.

Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.

Come join us today at : www.easymarkets.com/
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.