Price is now reversing nicely below our major area of resistance from 0.7042 to 0.7084 (38.2% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance). Our next major level of support is at 0.6823 (Fibonacci extension, horizontal swing low support) and our next major level of resistance is at 0.7214 (Fibonacci retracement, horizontal swing high resistance).
Stochastic (55,5,3) is seeing major resistance at 94% where a strong reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is seeing major resistance at 94% where a strong reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results