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

2019-08-19T04:31:31

Long-term review

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

Entry: 1.1111

Why it's good : Horizontal pullback resistance, 23.6% Fibonacci retracement, 61.8% Fibonacci extension

Stop Loss : 1.1160

Why it's good : Horizontal overlap resistance, 50% Fibonacci retracement

Take Profit : 1.1030

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!