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MEX_Exchange

EURUSD on strong support, time to buy to play the bounce

Long
Euro / U.S. Dollar (FX:EURUSD)  
MEX_Exchange  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns EURUSD EUR USD eurusdshort eurusdlong eurusdprediction eurusdforecast Forex forextrading
9
2
trendanalysis harmonicpatterns chartpattern eurusd eur usd eurusdshort eurusdlong eurusdprediction eurusdforecast forex forextrading
Buy above 1.1698. Stop loss at 1.1653. Take profit at 1.1793.
Reason for the trading strategy (technically):
Price is testing strong support at 1.1698 (Fibonacci extension, horizontal swing low support) and we expect to see a bounce above this level to push price up to at least 1.1793 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,3,1) is seeing strong support above 0.3% where we expect a corresponding bounce from.
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