EURUSD back to major resistance, remain bearish

٦ مارس ٢٠١٨

EURUSD is back to test our major resistance at 1.2363 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bearish divergence) and a strong reaction could occur at this level to push price down to 1.2165 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,5,3) is reacting really nicely off our major resistance at 95% and has good downside potential for our drop.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.