EURUSD approaching resistance, potential drop!
EURUSD is approaching our first resistance at 1.1733 (horizontal pullback resistance, 23.6%, 50% Fibonacci retracement) where a strong reaction might occur below this level pushing price down to our major support at 1.1542 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (55) is also approaching our major descending resistance and a reaction off this level might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is also approaching our major descending resistance and a reaction off this level might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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