FX.co ★ EUR/USD approaching support, prepare for a bounce

EUR/USD is approaching its support at 1.1306 (61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 1.1397 (50% Fibonacci retracement, horizontal pullback resistance).

Stochastic (89, 5, 3) is approaching its support at 1.5% where a corresponding bounce could occur.

EUR/USD is approaching its support where we expect to see a bounce.

Buy above 1.1306. Set stop loss at 1.1234 and take profit at 1.1397.