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MEX_Exchange
Apr 6, 2018 8:37 AM

Approaching Support, Prepare To Buy On Weakness Long

Euro Fx/U.S. DollarFXCM

Description

EURUSD is approaching its support at 1.2169 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal swing low support) where we expect to see a bounce, pushing price up all the way to its resistance at 1.2446 (100% Fibonacci extension, 76.4% Fibonacci retracement, multiple swingh high resistance). We have also identified another support level at 1.2073 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support).

Stochastic (89, 5, 3) is approaching its support at 1.23% where we expect to see a corresponding bounce.
Comments
ofa
Sir how do u see this developing?
omidtrader1367
better idea would be to SELL this pair on 1.2374 and 1.2440 supply zone....i also expecting a bad NFP news on this friday
JonathanSim
nice! I'm also expecting a temporary weakness during NFP
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