EURAUD approaching resistance, potential drop!
EURAUD is approaching our first resistance at 1.6148 (horizontal pullback resistance, 23.6% Fibonacci retracement) and a strong drop might occur pushing price down to our major support at 1.6074 (horizontal pullback support, 76.4% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (21) is also facing bearish pressure and we 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 (21) is also facing bearish pressure and we 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.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.