theforexarmy

EURUSD Approaching Support, Prepare For A Bounce

Long
FX:EURUSD   Euro / U.S. Dollar
Buy above 1.1619.
Stop loss at 1.1590.
Take profit at 1.1690.
Reason for the trading strategy (technically):
EURUSD is approaching its support at 1.1619 (61.8% & 100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal swing low support) where it could potentially bounce to its resistance at 1.1690 (61.8% Fibonacci retracement , horizontal swing high resistance).
Stochastic (89, 5, 3) is bounced off its support at 2.8% where a corresponding bounce could occur.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out