EURUSD approaching support, potential bounce!

٢٠ أبريل ٢٠١٨

EURUSD is approaching our first support at 1.234 (horizontal overlap support, 61.8% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 1.2395 (horizontal swing high resistance, 100% Fibonacci extension).

Stochastic (55,5,3) is also seeing a bullish divergence and is approaching our major support where a bounce off this level might be a good precursor for a potential rise in price.

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