We’re seeing major resistance below 132.85 (Multiple 50% Fibonacci retracements, horizontal overlap resistance, bearish price action) and a strong reaction could occur at this level. Our next major level of resistance is at 133.21 (61.8% Fibonacci retracement, horizontal pullback resistance) and our next major level of support is at 132.05 (swing low support) before 131.73 (Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is reversing nicely below 96% resistance.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is reversing nicely below 96% resistance.
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