EURUSD approaching its resistance, potential for a drop!
EURUSD approaching its resistance at 1.2461 (74.6% Fibonacci retracement) where a reaction could occur, causing price to fall to its 1st support at 1.2375 (50% Fibonacci retracement, 38.2% Fibonacci retracement). We have also identified a 2nd resistance at 1.2491 (100% Fibonacci extension, channel exit potential).
Stochastic (89, 5 3) is approaching its resistance at 98% where a potential reaction could occur.
Stochastic (89, 5 3) is approaching its resistance at 98% where a potential reaction could occur.
Trade closed: target reached
nice! dropped to our support target!
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