theforexarmy

EURUSD Approaching Support, Prepare For A Bounce

Long
FX:EURUSD   Euro / U.S. Dollar
Buy above 1.1518.
Stop loss at 1.1416.
Take profit at 1.1661.
Reason for the trading strategy (technically):
EURUSD is approaching its support at 1.1518(61.8% Fibonacci extension , 61.8% Fibonacci retracement , horizontal overlap support) where it could potentially bounce to its resistance at 1.1661 (50% Fibonacci retracement , horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching 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