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

2019-08-05T06:49:02

Long-term review

EURUSD is approaching our first resistance at 1.1123 where we might be seeing a drop below this level.

Entry: 1.1123

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

Stop Loss : 1.1183

Why it's good : horizontal overlap resistance

Take Profit : 1.1029

Why it's good: Horizontal swing low support, 100% Fibonacci extension

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!