EURAUD testing its resistance, potential reversal!

20 באפר׳ 2018

EURAUD is testing its resistance area at 1.5997 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, 50% Fibonacci retracement) where potential reversal may occur, causing price to drop to its support at 1.5923 (61.8% Fibonacci extension, 50% Fibonacci retracement). We have also identified another resistance at 1.6036 (100% Fibonacci extension).
Stochastic (89, 5, 3) is approaching its resistance at 95% where we expect to see a corresponding reversal.