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

2019-08-02T07:57:25

Relevance until2019-08-03

Price approaching its resistance at 1.1119 where it could potentially drop to its support. Ichimoku cloud is also showing signs of bearish pressure.

Entry: 1.1119

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

Stop Loss : 1.1180

Why it's good : 61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance

Take Profit : 1.1029

Why it's good: horizontal swing low support

EUR/USD approaching resistance, potential reversal!

*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 reversal!