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

2019-08-08T06:12:07

Long-term review

EURUSD is approaching our first resistance at 1.1281 where we might be seeing a drop below this level.

Entry: 1.1281

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

Stop Loss : 1.1325

Why it's good : horizontal swing high resistance, 76.4% fibonacci retracement

Take Profit : 1.1166

Why it's good: Horizontal overlap support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement

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!