EURUSD is approaching our first resistance at 1.1654 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.1595 (horizontal pullback support, 50% Fibonacci retracement). Stochastic (55,5,3) is also approaching our resistance and a reaction below this level might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.