EURUSD testing major resistance, prepare for a potential drop!
EURUSD is testing major resistance at 1.2294 (Fibonacci extension, horizontal swing high resistance, bearish butterfly harmonic formation) and a strong drop could occur from this level pushing price all the way down to 1.2090 support (Fibonacci retracement, horizontal pullback support).
Stochastic (55,5,3) is seeing major resistance at 97% where a corresponding drop could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is seeing major resistance at 97% where a corresponding drop could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results