EURUSD reversed nicely off its resistance, potential to drop!
EURUSD reversed nicely off its resistance at 1.1825 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall further to its support at 1.1647 (horizontal overlap support, 61.8% Fibonacci retracement). We do have to be cautious of the intermediate support at 1.1741 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 4) reversed nicely off its resistance and still has downside potential.
Stochastic (55, 5, 4) reversed nicely off its resistance and still has downside potential.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.