FX.co ★ EUR/USD continues to test strong resistance, remain bearish

The price continues to test our strong resistance and selling level as we wait for a reaction. We remain bearish today looking to sell below 1.11744 resistance (Fibonacci retracement, horizontal pullback resistance, bearish divergence) for a push down to at least 1.1653 support (Fibonacci extension).

Stochastic (21,5,3) is seeing major resistance below 95% and we expect a corresponding reaction from this level. We can also see bearish divergence vs price signaling that a drop is impending.

Sell below 1.1744. Stop loss is at 1.1793. Take profit is at 1.1653.