FX.co ★ EUR/USD dropping perfectly towards profit target, remain bearish for a further drop

Price dropped perfectly from our selling area yesterday. We remain bearish looking to sell below 1.1715 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 1.1617 support (Fibonacci extension, horizontal swing low support). It is important to take note of the ascending support line that is serving as intermediate support to price.

Stochastic (34,5,3) is seeing a good downside potential for price to make a further drop.

Sell below 1.1715. Stop loss at 1.1750. Take profit at 1.1617.