FX.co ★ EUR/USD Reversed Off Resistance, Prepare For A Drop

EUR/USD reversed off its resistance at 1.1626 (61.8% Fibonacci extension, 38.2%, 50% Fibonacci retracement, horizontal overlap resistance) where we expect the price to drop further to its support at 1.1533 (horizontal swing low support).

Stochastic (55, 5, 3) reversed off its resistance at 95% where a corresponding drop could occur.

EUR/USD reversed off resistance where we expect to see a further drop.

Sell below 1.1626. Stop loss 1.1668. Take profit at 1.1533.

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