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

2019-07-31T04:53:01

Long-term review

EURUSD is approaching our first resistance where we are expecting a drop below this level.

Entry: 1.1185

Why it's good : Horizontal overlap resistance, 100% Fibonacci extension, 23.6% Fibonacci retracement

Stop Loss : 1.1222

Why it's good : horizontal swing high resistance, 61.8%, 38.2% Fibonacci retracement

Take Profit : 1.1120

Why it's good: Horizontal swing low support

EUR/USD approaching resistance, potential 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 drop!