FX.co ★ EUR/USD approaching profit target, prepare to sell

Price has bounced up strongly and is fast approaching our profit target. We prepare to sell below 1.1181 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 1.1120 support (Fibonacci extension, horizontal swing low support).

Stochastic (34,5,3) is seeing strong resistance below 96% with stochastic starting to turn down, signalling that we're expecting an impending bearish move.

Sell below 1.1181. Stop loss at 1.1216. Take profit at 1.1120.