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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/USD now testing major resistance, start selling

The price is now testing major resistance at 1.1918 (Fibonacci retracement, horizontal overlap resistance, bearish price action, Fibonacci extension) and we expect a strong reaction from this level to push the price down to 1.1825 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension).

Stochastic (34,5,3) is seeing major resistance below 94% where we expect a drop from.

Sell below 1.1918. Stop loss is at 1.1955. Take profit is at 1.1825.

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The material has been provided by InstaForex Company - www.instaforex.com