FX.co ★ EURUSD holding below descending trendline resistance. Further drop incoming!

Price holding below descending trendline resistance and moving average. A short term drop below 1st resistance at 1.19374 towards 1st support at 1.19100 can be expected.

Trading Recommendation

Entry: 1.19374

Reason for Entry:

38.2% Fibonacci retracement, descending trendline resistance

Take Profit: 1.19100

Reason for Take Profit:

Graphical swing low

Stop Loss: 1.19613

Reason for Stop Loss:

Graphical swing high