EURUSD approaching support, potential for a bounce!

٣ أبريل ٢٠١٨

EURUSD is approaching its support at 1.2284 (61.8% Fibonacci retracement, 78.6% Fibonacci retracement, multiple swing low support) where could potentially bounce and rise to is 1st resistance at 1.2381 (5% Fibonacci retracement, horizontal overlap resistance). If it surpasses this level, it could rise to its 2nd resistance at 1.2436 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap resistance). We have also identified another support at 1.2225 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap support).

Stochastic (89, 5, 3) is approaching its support at 1.81% where a corresponding bounce could occur.