EURUSD is testing its resistance, potential reversal!
EURUSD tested its resistance at 1.2387 (61.8% Fibonacci retracement, horizontal overlap support) where it could potentially react off, causing price to fall to its 1st support t 1.2325 (38.2% Fibonacci retracement, horizontal support) or to its 2nd support at 1.2306 (50% Fibonacci retracement, horizontal overlap support). We have also identified another resistance at 1.2420 (78.6% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) reacted off its resistance at 96% where it has a lot of downside potential. We also identified a bearish divergence with price which contributes to our bearish bias.
Stochastic (55, 5, 3) reacted off its resistance at 96% where it has a lot of downside potential. We also identified a bearish divergence with price which contributes to our bearish bias.
Trade closed: stop reached
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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.