easyMarkets
Short

EURUSD approaching resistance, potential drop!

FX:EURUSD   Euro / U.S. Dollar
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.
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Good call
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Used area between resistances and bought more when it was falling, it should bounce back like yesterday. We are in uptrend I guess and I'm holding to that.
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Saeglopur Saeglopur
@Saeglopur, Will clarify: used your resistances and supports, my chart is just for flag formation used yesterday but today I'm also using it as a extension.
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Saeglopur Saeglopur
@Saeglopur, FUKK :D I've reversed it to short because it was eating my whole profit on that position :O I guess now we are really going down and maybe even to new lows :O
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