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ICmarkets
Apr 8, 2019 3:31 AM

EURUSD Index Approaching Resistance, Prepare For A Reversal Short

Euro Fx/U.S. DollarFXCM

Description

EURUSD is approaching its resistance at 1.1246 (100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap resistance) where it could potentially drop to its support at 1.1184 (horizontal swing low support).

Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding bounce could occur.
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