EUR/USD approaching support, potential bounce!

EURUSD is approaching our first support at 1.1174 (horizontal swing low support, 61.8% Fibonacci retracement , 100% Fibonacci extension ) where a strong bounce might occur above this level pushing price up to our major resistance at 1.1336 (horizontal swing high resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ). Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.


The material has been provided by InstaForex Company -

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