EURUSD is approaching our first support at 1.1509 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1.1654 (horizontal pullback resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension).

Stochastic (89,5,3) is also approaching support and a strong bounce above this level 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.

Share this post: