EUR/USD approaching major resistance, prepare to sell

Price is approaching the major resistance at 1.1793 (Fibonacci retracement, horizontal swing high resistance, descending resistance) and we expect the pair to have a strong reaction off that level to push it down to at least 1.1691 support (Fibonacci extension, horizontal swing low support).

Stochastic (21,5,3) is seeing the major resistance below 94% and we expect a corresponding reaction off that level similar to the one we expect on price.

Sell below 1.1793. Set stop loss at 1.1842 aand take profit at 1.1691.


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