EURUSD is facing bearish pressure, potential for further drop!

Price is facing bearish pressure from our first resistance, in line with our horizontal pullback resistance, 100% fibonacci extension and 50% fibonacci retracement where we could see a reversal below this level.

Trading Recommendation

Entry: 1.17668

Reason for Entry:

horizontal pullback resistance, 100% fibonacci extension and 50% fibonacci retracement

Take Profit: 1.16959

Reason for Take Profit:

Horizontal swing low support, 61.8% fibonacci retracement

Stop Loss: 1.18221

Reason for Stop Loss:

78.6% fibonacci retracement