FX.co ★ EURUSD holding above ascending trendline support! Bounce Incoming!

Price holding above ascending trendline support. A short term bounce above 1st support at 1.20622 towards 1st resistance at 1.21082 can be expected. Stochastic testing support where price reacted in the past as well.

Trading Recommendation

Entry: 1.20622

Reason for Entry:

78.6% Fibonacci retracement, ascending trendline support

Take Profit: 1.21082

Reason for Take Profit:

23.6% Fibonacci retracement

Stop Loss: 1.20233

Reason for Stop Loss:

Recent swing low