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EURUSD approaching support, potential bounce!
EURUSD is approaching our first support at 1.1627 (horizontal overlap support, 23.6% Fibonacci retracement) and a strong bounce might occur above this level pushing g price up to our major resistance at 1.1727 (horizontal pullback resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement). A breakout above our intermediate resistance at 1.1660 (61.8% Fibonacci extension) might provide the bullish acceleration to our major resistance target.
RSI (21) is also seeing a bullish exit and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
RSI (21) is also seeing a bullish exit and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
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.
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