FX.co ★ EURUSD is facing bearish pressure, potential for further drop!

Price is facing bearish pressure from our first resistance, in line with our descending trend line, 61.8% fibonacci extension and 78.6% fibonacci retracement where we could see a reversal below this level.

Trading Recommendation

Entry: 1.17869

Reason for Entry:

descending trend line, 61.8% fibonacci extension and 78.6% fibonacci retracement, horizontal swing high resistance

Take Profit: 1.16959

Reason for Take Profit:

Horizontal swing low support, 61.8% fibonacci retracement

Stop Loss: 1.18221

Reason for Stop Loss:

78.6% fibonacci retracement