FX.co ★ EUR/USD approaching major resistance, prepare to sell

We remain bearish looking to sell below major resistance at 1.1691 (Fibonacci extension, Elliott wave theory) for a corrective push down to at least 1.1583 support (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) is seeing major resistance below 98% where we expect a corresponding reaction from.

Sell below 1.1691. Stop loss is at 1.1736. Take profit is at 1.1583.