EURUSD approaching support, watch for potential bounce!

27 ביוני 2018

EURUSD is approaching our first support at 1.1626 (horizontal overlap support, 61.8%, 100% Fibonacci extension, 50% Fibonacci retracement) and a strong bounce might occur above that level pushing price up to our major resistance at 1.1723 (Horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (34,5,3) is also bouncing off our support and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.