EURUSD Approaching Support, Prepare For A Bounce
Buy above 1.1518.
Stop loss at 1.1416.
Take profit at 1.1661.
Reason for the trading strategy (technically):
EURUSD is approaching its support at 1.1518(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.1661 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 2.8% where a corresponding bounce could occur.
Stop loss at 1.1416.
Take profit at 1.1661.
Reason for the trading strategy (technically):
EURUSD is approaching its support at 1.1518(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.1661 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 2.8% where a corresponding bounce could occur.
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