FX.co ★ EUR/USD drops perfectly and remains bearish

EUR/USD has reached our selling area and reversed perfectly as expected. We remain bearish below the major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement, horizontal overlap support).

Stochastic (55,5,3) has reversed nicely off our 95% resistance and has good downside potential.

Sell below 1.1264. Set stop loss at 1.1301 and take profit at 1.1159.