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Tickmill
Dec 12, 2018 2:25 AM

EURUSD approaching support, potential bounce!  Long

Euro Fx/U.S. DollarFXCM

Description

EURUSD is approaching our first support at 1.1308 (61.8%, 100% fibonacci extension, horizontal swing low support, 76.4% fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.1394 (61.8% fibonacci retracement, horizontal swing high resistance).
Stochastic (55,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
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Comments
lehlogonolo
Dont about you but it may be forming a continuation https://patternhttps://www.tradingview.com/chart/EURUSD/p815jhFR-EurUsd-SellOff-Momentum-Strong/
fx-tradingfi
First reasonable entry point was yesterday evening, with a rather clear pinbars on M15 (and more so at M5), right at the crossing of dotted trendline and 1st support.
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