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Tickmill
Jan 24, 2018 4:57 AM

EURUSD testing major resistance, prepare for a potential drop! Short

Euro Fx/U.S. DollarFXCM

Description

EURUSD is testing major resistance at 1.2294 (Fibonacci extension, horizontal swing high resistance, bearish butterfly harmonic formation) and a strong drop could occur from this level pushing price all the way down to 1.2090 support (Fibonacci retracement, horizontal pullback support).

Stochastic (55,5,3) is seeing major resistance at 97% where a corresponding drop could occur.

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