Approaching Support, Prepare To Buy On Weakness

EURUSD is approaching its support at 1.2169 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal swing low support) where we expect to see a bounce, pushing price up all the way to its resistance at 1.2446 (100% Fibonacci extension, 76.4% Fibonacci retracement, multiple swingh high resistance). We have also identified another support level at 1.2073 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support).

Stochastic (89, 5, 3) is approaching its support at 1.23% where we expect to see a corresponding bounce.