FX.co - EUR/USD approaching resistance, potential for big drop!

2019-05-13T02:03:40

Long-term review

Price is approaching resistance where we might see a corresponding drop in price to our first support level.

Entry : 1.1248

Why it's good : horizontal swing high resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension

Stop Loss : 1.1281

Why it's good : horizontal pullback resistance, 76.4% Fibonacci retracement

Take Profit : 1.1169

Why it's good : horizontal swing low support, 61.8% Fibonacci extension

EUR/USD approaching resistance, potential for big drop!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ EUR/USD approaching resistance, potential for big drop!