EURAUD approaching resistance, potential drop!
EURAUD is approaching our first resistance at 1.6243 (horizontal swing high resistance, 100%, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 1.5706 (horizontal overlap support, 78.6%, 61.8% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching 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.
Stochastic (89,5,3) is also approaching 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.
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