EURUSD approaching resistance, potential reversal!
EURUSD is approaching our first resistance at 1.1814 (horizontal swing high resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 1.1734 (horizontal overlap support, 50% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (55,3) is also approaching our major resistance and a reaction off this level might see a corresponding drop in price.
Stochastic (55,3) is also approaching our major resistance and a reaction off this level might see a corresponding drop in price.
Trade closed: target reached
Caught the drop perfectly on this one :)Note
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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.